People do far more research prior to buying a car or a HDTV than they do on an investment company that will be making decisions on their life’s savings. Just where is the logic?
I have been in the investment business for quite a while and I’m continually surprised at how little knowledge people have about investing or the firms that are managing their assets.
The subject may seem both complex and boring to many people. It seems that the choices we have to educate ourselves on investing include conducting research on the internet, buying books/financial publications or taking a course at a local college or continuing education program. As a baby boomer over 55 years old, I do not find any of these options appealing.
A couple of months ago, I saw Jim Cramer interviewed by Jon Stewart on The Daily Show. At that point in time, I had never seen Cramer’s show Mad Money. So I decided to watch an episode of Mad Money, and quite frankly I am hooked. As one of the founders of a firm that managed over $12 billion dollars in assets, I must admit that I was impressed with Cramer! And by the way, I have never met Jim Cramer.
Without a doubt, he is incredibly knowledgeable but unlike practically every other financial show I’ve seen, he effectively educates and guides viewers in an entertaining style. He continues to stress what I consider to be an extremely important point.
The investment process is something each and every one of us can and should handle on our own if we choose. And for those of who prefer to utilize advisory services, being knowledgeable on the topic can make a significant difference in overall performance.
If you are over 50 years old like me, you cannot afford to have your savings poorly managed. Believe it or not, most advisors prefer to work with clients who participate in the decision making process. Trust me, if we can get up to speed on the latest bells and whistles related to the newest electronic gadget on the market, we can certainly play an important role in managing our assets. And if you do use an advisor, I assure you he or she will appreciate your participation.
You can learn more about investing by watching Mad Money, reading publications like SmartMoney and spending time reviewing your portfolio with your advisor (if you work with a financial advisor).
About hvsadmin
Follow Us!