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10 Tips for Money Management
Many of us don’t need an investment advisor.
A long, long time ago, in a faraway place, I had a decent chunk of money in a 401 K plan. When I say decent amount of money, I’m going by Lambert standards, not TV people looking to retire while putting their kids through college and spending summers in Europe money. I’m talking about buying a trailer in Florida and living on social security while not slinging fries at McDonald’s money.
Anyway, I had this trailer money being managed by an investment firm. This was circa 2008. You might remember that time as the era when the stock market tanked and people were vying for a good place to stay under highway overpasses. I told my money manager to put my stuff in as conservative investments as possible.
She put it in a moderately conservative portfolio. Not an extremely conservative portfolio. I lost about 14% of my money. And I came out better than many.
I see companies advertising wealth management. Most of the people I know need poverty management. With that in mind, here are some things you might not know about investments.
1: Not all investment firms hire only finance majors.
Other skills are helpful. People like computer science majors are also potential hires. I believe the investment…
