By TGS Financial Advisors
Strategies to protect and grow your money from the TGS Financial Advisors Annual Wealth Management Conference in May 2010, presented by Marvin Barron, Managing Director and Jim Hemphill, Chief Investment Strategist.
- Sell anything that’s stupidly priced.
- Reduce portfolio risk. In a low-return environment, a total loss in one part of the portfolio can’t be recovered with high returns elsewhere.
- Manage tax liability across time. Taxes on earned income, capital gains, dividends and estates are all scheduled to increase after 2012.
- Turn off CNBC, Fox Business News and other sensationalized short-term market commentary.To stay informed, we recommend more measured sources such as The Economist magazine.
- Keep political opinions and investment decisions separate. Don’t take investment advice from Glenn Beck. Ditto Paul Krugman.
- Own real things. We believe there are only four "real" things in which you should invest serious money: stocks, bonds, real estate and cash.
- Know what you have. We are often surprised by the number of successful people who don’t know their net worth plus or minus $1 million.
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