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Wealth Management 101 

Latest From My Personal Finance Blog

What Is Diversification? And How Do I Do It?

If you’ve read almost any book, article, or blog on investing, you’ve seen the word “diversification.” But experience has taught me that most investors — even educated ones — still don’t understand what diversification is, how it works, or why it’s important. In my continuing crusade to offer plain English explanations of sometimes complex topics, I’m taking on this vital and often misunderstood concept. Strap in. This is going to be fun! (I promise.)

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How Should I Invest My 401(k)?

Back in August, I wrote all about saving and where to put those savings. One of the first places I advised you to save was in your employer-sponsored retirement plan. For most people, that plan is a 401(k). This month I’ll be laying out principals and rules of thumb you can use in making choices that fit your specific situation.

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In Praise of Simplicity

All too often, clients come to me with investment ideas they like. Some are good and some are not so good, but many of them are complex. As humans, we are often seduced by complexity, as though the more glamorous or intricate an investment instrument is, the better it must be. Why own a set of simple and low cost index funds when you can buy a hedge fund? Why buy and hold when you can trade actively? Is the market falling? Why not short some stocks?! Just think of the possibilities!

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Risk Tolerance: What is it? Why does it matter?

When I sit down to talk with new clients and prospective clients who are considering the decision to hire me, I often ask them about their “risk tolerance” or “risk appetite.” “Do you know what your Risk Tolerance is?” I ask. More often than not, they shrug their shoulders and tell me they don’t even know what Risk Tolerance means. I’m never surprised at this, because there isn’t exactly a class in high school or college that would explain the concept — yet we are all expected to save and invest for our future. In the interest of helping you become a savvier investor, this month’s post is all about your ability to tolerate risk and why it matters.

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