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Jerry's Recipe for Investing Success
20/20 - "Clear Investment Vision Tips" |
- Get educated on what’s going on in the financial world
- Tithe, pay off your credit card debt, contribute to your 401k plan up to the company matching contribution, build up a $5-10,000 cash reserve, refinance to a 15 year mortgage, max out your 401k, contribute to a Roth IRA and if you have kids, start a 529 plan
- Learn how earning 1-2% more can equal 80% more retirement income
- Adhere to the "Commissioner’s" four rules of investing:
- Patience, Be contrarian in nature, Control costs, Limit taxes
- Buy & Hold = Buy and Fold. Have a flexible investment strategy
- Asset Allocation, Asset Allocation, Asset Allocation!
- Have all three of: Cash/Bonds/Stocks
- Bonds: Medium term, U.S, Foreign, HY, Tips, Church Bonds
- Stocks: U.S. large, med, small, REITS, Commodities and Foreign
- Sectors we like this year:
Commodities, Health Care, Energy, Dividend Stocks
- How many funds do you need?
Enough to cover the categories above-typically 5-12
- How to buy mutual funds:
- Over $250,000: Seek FEE ONLY professional management: "Virtual Fund"
- $100 - $250,000: Fire your broker or yourself – hire a good newsletter
- Under $100,000: Leuthold Core fund (LCORX) Masters Select Equity (MSEFX)
- Lower: TIAA-CREF $50 a month. T. Rowe Price "Smart Choice."
- Don’t buy funds that advertise:
Cut the ads, overhead, buy wholesale
- Better Yet Buy Little Known Closed End Funds (CEFs)
- Buy $100 worth of stock for $90
- When Diversification Is Not Diversification:
Owning five U.S. stock funds from five different companies that invest in large company stocks is not diversification
- Hire ONLY FEE ONLY ADVISORS.
"Fee Based" is not the same as FEE ONLY. Fee Based advisors win trips, incentives, etc.
- Avoid "trick investments".
Remember what grandma says: "if it looks to good to be true, it probably is"
- Avoid the biggest scam: Avoid annuities at all costs because they are all about costs!!
Deferral-smeral!!, Your agent can win a Cadillac and trips. Only one thing worse than a bad mutual fund – almost any annuity.
- Invest in Exchange Trade Funds (ETFs) to lower your costs and improve performance
- Buy some 1st Mortgage Church Bonds
………best investment you have never heard of!
- Fire your commission based advisor, broker or agent
- Know what your performance
is at all times on all of your investments
- Things to do this week
- Look at how your 401k is invested, Pay attention to The Jerry Wade Show TRA indicator on how much to be invested in stocks
- Make sure you don’t own crappy investments: b & c shares versions of mutual funds, high fee annuities, etc.
- Do you own investments in the www.fundpolice.com "who’s busted database"? If so, kick them out of your portfolio
- If you don’t have a portion of your money in CEFs, ETFs and Stock Folios you are missing the boat!
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Music By Triple Play
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