It was a question I asked a new customer this week, “What kind of investor d’you wanna be?”, and our conversation sparked inspiration for this podcast.
Obviously, we women want to be WISEinvestors (a recurring theme here on my blog and website), yet it’s all about balance. I often speak of a pants pocket analogy when explaining balance, as you’ll hear on this podcast. I also mention and define various risks and warn about the inevitability of losing money while on the road to gaining it. It’s what investments do – their prices gyrate up and down, yet over the long haul, most (not all) make money. People’s “mistakes” or perceived mistakes vary, yet most aren’t so critical they can’t be fixed. It’s how you plan first for the proper “mix” between stocks and bonds (dependent upon your goals) and then systematically re-balance your portfolio that position you to be a BIG winner in the end.How to make money in life is a blend of earned and unearned income and on the latter, we have a choice between active and passive investing. You’ll hear my formula for success, and my firmly held beliefs on the value of passive investing over active investing, based upon years of research.