Here is a quote from an article written by Don Ezra, director of strategic advice at the Russell Investment Group, and republished in the CFA (Certified Financial Analyst) publication "Bold Thinking On Investment Management" (2005). The quote may be attributed to Charley Ellis and others:
"...individuals do not have to be investment experts...they do, however, need to be able to characterize...between...wanting to eat well after retirement and...wanting to sleep well while they are saving..."
"...they need to take relatively greater risk if their goal is to eat well and there is no guarantee...they want more safety if their basic choice is to sleep well..."
In the end, some compromises may be needed but the key is choosing with a knowledge and understanding (as much as is possible) of the potential risks and rewards.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.