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Overview - Ten steps to sensible and efficient investment planning
Category : Financial Planning -- 10 Personal Steps in the Right Direction
Optimal and efficient personal financial planning and investment management:
An Overview of 10 Financial
Planning Steps in the Right Direction
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OTHER ARTICLES ABOUT THESE "10 FINANCIAL PLANNING STEPS IN THE RIGHT
The Skilled Investor
provides this ten-step process to help investors optimize their
financial and investment affairs and reduce the unnecessary waste of
their money and their time.
Personal wealth provides freedom of choice and insulates investors
from the financial impacts of many risks. Personal wealth is defined
here as ample asset coverage of expenses over one’s full
lifecycle. For most people, achieving personal wealth requires many
years of effort and may involve significant worry. A comprehensive and
rational process can build wealth and security more rapidly and more
reliably. Such an approach to personal finance and investing can be
less work and less worry.
Investing involves both theory and practice. The Skilled Investor’s
approach supports learning about scientifically based investment
principles within a practical context. The objective is to balance the
need to understand the truths revealed in the scientific investment
literature with the desire for straightforward implementation
Why bother to become more scientific and methodical about your
financial planning and investment program? The answer is measured in
dollars – your dollars. Well, at least they are your dollars,
until you allow someone else to take them without providing
commensurate value in exchange.
The average investor pays between 1% and 2% of assets for excessive
and entirely avoidable visible or hidden investment costs. Yet, on
average, their returns trail a passively managed market portfolio.
$100,000 portfolio, this is $1,000 to $2,000 thrown away year after
year without receiving commensurate value. The waste increases with the
size of the financial portfolio. Furthermore, when one considers that
these figures are pretax, it only adds to the bad news. Often, less
than optimal investment strategies accelerate the unnecessary
recognition of taxes, which are paid at higher short-term capital gains
This expensive mess is completely avoidable. The following
operational steps are important to anyone pursuing wealth and personal
financial security. Click on any of the links below for a more detailed discussion of any of these 10 steps.
financial planners and investment advisors may also be useful to you:
Selecting a Financial Advisor:
Payment of Financial Advisors:
Regulation of Financial Advisors:
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