Taking the Mystery Out of Investing Part 2
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46In the last post I gave you a little background into my limited investing knowledge and search for education.
I met an Edward Jones agent, Mr. Bob Swank, who helped me by answering my questions.
I also gave you some basic vocabulary based on what I learned. Now here is the rest of the article.
What Are You Willing to Risk?
The key to getting the most out of investments is to know your risk tolerance or how well you handle the ups and downs of the market.
If you get sick to the stomach at the thought of losing a little money when stock prices go down and you like to play things safe you have a low risk tolerance.
If you can stand to lose a little money because you know you will gain even more and you like taking risks then you have a high risk tolerance. Most people fall somewhere in between those two extremes.
The second key to getting the most out of your investment activity is to think long term.
The longer you keep your money in a balanced portfolio that includes great companies that consistently deliver quality products and services, the better your returns and the greater your nest egg when you are ready to retire.
So that’s that basics of investing based on my understanding.
You may want to speak to an investment adviser yourself if you have more questions.
Mr. Swank, at Edwards Jones, told me that speaking to one of his company’s representatives does not cost you anything. They are a conservative company that helps people like us understand what investing is about and help us choose the best plan for making our money grow.
Start Investing with $50
If you are feeling brave you can start investing as little as $50 per month. There is not cost, meaning they don’t make a commission if you open an IRA.
They make their money off stock investments you may purchase. I love the fact that he was so honest with me.
I’ve made an appointment to begin rolling over a retirement account I have from several years ago.
I will use it as a case study on the start-up process and other details about what and how Mr. Swank and I will plan my retirement, investment, and college savings programs. Stay tuned!
Samantha Gregory
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