If you're trying to make your money work for you in Arlington, investment management is crucial. Without having some kind of plan for your money -- or some idea of the boundaries you're comfortable with -- your portfolio will never look as good as it should.
Want to make managing your investments a whole lot easier?
Just follow these 4 tips:
1. Get a qualified financial advisor
Chances are you're not a financial expert. And, between work and the kids, you don't have time to become one! Luckily, Arlington is home to plenty of great financial advisors who can give you the expert tips that you need. If you're working with a good one, you'll get an investment plan that meets your needs and is tailored to match your specific goals. Much easier than trying to get a degree in finance, right?!
2. Rely on expertise -- not fortune-telling
Even the best Arlington financial advisors don't have a crystal ball. They may know enough to make expert guesses about the market's future, but they can't tell you exactly what's going to happen in six months, or how much money you're going to make in the next year.
If your financial advisor tries to make guarantees that seem more appropriate for a fortune teller's tent than a business meeting, you've got the wrong one. Sure, some of his predictions may come true -- but what happens when you gamble on a "sure thing", and he's wrong?
Remember how your mother used to warn you against not putting all of your eggs in one basket? That advice applies to a lot of things, but it's rule #1 in Arlington investment management.
Since your financial advisor isn't psychic, you can't rely on just one type of investment tool. It's just too risky. Instead, you need to make sure that your Arlington investment management plan relies on a number of options and tools. The more well-rounded your portfolio is, the smaller your chances of losing big when the market has a hiccup.
4. Don't leave your comfort zone
Just because you hire one of Arlington's financial advisors doesn't mean that you have to let him call the shots. Having a financial expert on hand also isn't an excuse to take all kinds of risks that you normally wouldn't take otherwise. Above all else, you need to be able to sleep at night -- without worrying that your retirement nest egg is going to get wiped out, or that your kids won't be able to go to college.
Bottom line -- successful Arlington investment management means finding a balance between healthy risk and unhealthy risk. Only you can determine where that balance lies.
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Michael Del Colliano is Vice President of Westbourne Investments Inc.. Michael is a licensed Life Insurance Agent, active account portfolio manager, and participates in the day-to-day operations of Westbourne Investments. So keep reading his articles to know about Arlington investment management.
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