Take the Mystery Out of Investing
By John V. Morey
Registered Principal, RJFS
Investment Management Consultant
1: to commit (money) in order to earn a financial return
Merriam Webster Dictionary
For many people, thinking about the words “invest” or “investing” is enough to make their heads spin.
Most of us know that investing for our future is a smart thing to do, but how to go about it can seem like a deep, dark mystery. Our thoughts can immediately jump to questions like:
- “Should I buy stocks? Which ones? Are bonds safer?”
- “Cash is good, isn’t it? Are mutual funds better?”
- “Should I buy ‘No Load’ funds because they’re cheaper?”
Some people may also think, “I don’t need a financial advisor—I can do this all by myself, right? What have I got to lose?” (The answer: Only your money.)
What’s Behind Door Number 3?
In 31 years of work as a Financial Planner and Investment Manager in Omaha, Nebraska, my opinion has been that successful investing depends mostly on the planning process used, not on which “hot” stock you buy. In all these years, I have never seen a “hot” stock that turned out as promised, and I have yet to see a fruitful investment whose success depended on whether you paid more commission to buy it. A good investment should not be a surprise, nor dependent on luck.
The right investment will reveal itself, if you start with the right planning process.
Every investment should be made with the end result clearly in focus. Every investment should have a high potential to get you closer to your goal. Every investment should be made to fit into a well laid-out plan designed to get you where you need to be. Every investment should be monitored with logic and unemotional thinking.
Personalized Financial Planning Sessions
At Morey & Quinn, our focus is on personal attention. Each financial advisor is dedicated to customizing your financial plan. We work around your goals, to help you gain financial confidence on your path to a well-planned life. At an initial exploration meeting, we assess your current financial well-being, and discuss goals and risk. Our planning process is thorough, but it’s not complicated.
We start by asking questions to set some goals:
- Retirement?: When? How much will you need? What are your sources?
- College?: When? How much will you need, for how many years?
- Wedding?: When? How much will you need?
- Second Home?: When? Where? How much will you need?
- What are your other goals?
Next, we discuss financial topics surrounding your goals, such as:
- How much money do you have now for this goal?
- Can you set aside more money to reach this goal? How much, and is it enough?
- What kind of annual average return is needed to meet this goal?
- What could a market downturn or recession do to this plan? How would that feel?
Morey & Quinn Helps You Navigate Your Questions
Only after we have answered all of these and many other questions will we be anywhere near deciding whether to buy this or that stock, increase or decrease bonds, invest in mutual funds, etcetera. It is only after the planning stage, when we have answered all the personal questions, that we can make some solid investment decisions; decisions not influenced by the daily confusion and “noise” in our markets.
Your Morey & Quinn Financial Advisor will get your overall financial plan in place, then regularly look at it with you to refresh, adjust and recalculate, while keeping an eye on the goals set together. Our commitment to clients is to add substantial value to your planning process, and offer personalized wealth management services that help you realize your goals.
Set up an exploration today. Your financial future does not have to be a mystery.
Call Us: 402.502.9900
Any opinions are those of John Morey and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. Investing involves risk and you may incur a profit or loss regardless of strategy selected.