A financial advisor never works for you. He works for himself first and for his company second and if you happen to make money then that's OK too.
When they say things like "You are in it for the long term" you should say no I'm not. You are in it every day to make money. There should be very few days when you are losing money. You should take immediate action to go to another investment as soon as you see a loss in any investment.
When they say you are going to have a "Lost oportunity cost" you should say I will take the risk of a loss and wait for a better and safer opportunity to come along.
Most mutuals offer you the chance to risk your lifes savings while the fund managers and financial advisors make alll the money so be very careful of mutual funds and never forget to constantly watrch your investments. It may seem as though it is a second job but it is the necessary insurance against big losses.
T-bills are only paying 1.3 percent right now because there are so many people rushing to a place of safety.
Be very careful of any bank institutiion and make sure they are rated for safety. Only invest in a bank up to the FDIC maximum $100,000 per person and then go to another bank up to their maximum.
When a financial advisor comes at you with an amazing opportunity for a fixed or variable annuity you should run not walk from them because they have nothing in mind other than their own pocket and making a killing for themselves in a very short period of time and at very minimal work.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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