Broker Check

Scott's 10 Talking Points for 5-11-2015

| May 11, 2015
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By D. Scott Peterson 

Here I bring you my 10 talking points for the week. These are things that I think are important to note in the market. This also is way for my clients and readers to drill down and block out the background noise of the day to day media. A simple 10 point article for your enjoyment! 

1. The press, media, TV etc. can and will cause you to experience emotional swings and may result in an emotional reaction that results in you losing sight of your short-term and long-term investment goals.

2. What is long-term and what is short-term? It is what you and your advisor jointly decide it is.

3. You must be on the same page on this issue with your advisor.

4. You can’t have a short-term panicky mindset and expect to reach long-term goals.

5. Safety is important but you must take some risk to be successful in investing.

6. It’s counterproductive to ask your advisor to get unreasonably high returns and then say, “but it must be safe.”

7. Work with PWM to clearly understand what “safety is.”

8. If you don’t understand this, your advisor may invest your assets too carefully.

9. Do not be pulled by claims in ads that everything is “free” or “lower cost.” There is never a free lunch.

10. Read these comments again. A client and a prospective client who understands these things will do much better and get better results.

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