Imagine eating the same thing every day for breakfast, lunch, and dinner. (Sounds awful, unless you're a toddler.) Your diet is much like your portfolio — you need some variety. The “Skittles Chart” below shows the power of diversification and how having a balanced, globally-diversified portfolio can help you stay on track toward your goals. We talk a lot about taking a long-term view with investing, but how long is long term? While five years may seem like a long time in politics, sports and education, five years in the stock market is considered short-term investing as the article below details. We also look at how to protect your older parents or loved ones from financial fraud by having thoughtful conversations about safeguarding their assets. Finally, do you keep track of little daily expenditures? It's shocking to see how the “little things” in life can add up! See how you can give yourself a raise by being more mindful of your “Latte Factor.”
Timothy A. Ferris
Investment Advisor Representative
Phone: (216) 255-6640
Articles of Interest
Different asset classes may outperform one year and then not the next, illustrating the randomness of returns and the potential benefits of a globally-diversified portfolio.
Your definition of “long term” may be vastly different than what financial experts think. Ensure your investing time horizon is realistic for your life goals.
Simplifying financial accounts, drafting powers of attorney and assigning a financial “wingman” are just some of the precautions you can take to help protect loved ones' hard-earned savings.
That $5 a day coffee habit (or other unchecked, minor expenses) could potentially cost you thousands over a 10-year period. You'll never look at your Starbuck's expenditures the same way again.
Diversification neither assures a profit nor guarantees against loss in a declining market.
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