March 16, 2009, 5:00 am

How To Start Investing – A DIY Growth Investment Strategy Part 4 – Do You Want A Broker, A Financial Planner or Being a real DIY investor?1

by: The Financial Blogger    Category: Financial Planning,Investment, Market and Risk
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So if you are following this series, you should know three major things about investing by now:

How much do you need for retirement and how to make it happen

How to determine your investor profile with the help of bank questionnaires

What is your investor profile look like and which kind of investment product is suitable for you (Part1, Part2)

So you are already ahead of most people by now. However, while knowing how much to invest per month and what is your investor profile is not enough for a comfortable financial situation. Now you need to know if you want to work with someone on your financial plan or if you want to do it yourself (DIY investor 😉 ). The next Mondays will be spent on this specific topic. We will actually look at three alternatives:

– Working with a broker

– Working with a financial planner / financial advisor

– DIY investing

But first, here are a few questions you must ask yourself before continuing in this series. They will help you knowing which kind of investor you are and what are your needs in term of investing.

– How much to you have to invest now and how much are your ready to invest per months?

– Do you like reading financial newspaper and knowing what is going on in the economy?

– Do you like making research, reading financial statements, doing ratio calculation?

– Do you love to know what is going on in your portfolio and why you are holding so and so mutual funds?

– For your equity part, do you prefer mutual funds or stocks (including ETF’s)

– Do you want to be involved in the investing process?

– Would you like to get real time information, monthly/quarterly phone call or receiving your statement is good enough?

– Do you like details a lot, a bit or you prefer to get the global picture?

– Are you able to trust someone else with your money; completely? Through discussions? Or not at all?

So think about all of those questions, write down your answers and I will tell you what would be the best type of “investment partner” for your “investor style”.

Stay tuned as we will continue next Monday. Until then, good luck investing in the meantime!

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Would you add these two questions: Are you letting your emotions guide you? Are you afraid of losses?

by: The Financial Blogger | March 16th, 2009 (7:37 pm)

Zavi, while those 2 questions are really relevant, they would be more related to determine your investor profile.

In fact, a broker or a financial planner will be able to work with you regardless if you control or can’t control your emotions.



“… implicated in the investing process….”? That comes out funny – sort of like Madoff was implicated in the ponzie scheme. Maybe “involved”. Good post. Looking forward to the rest of the series.

by: The Financial Blogger | March 17th, 2009 (5:05 am)

Hey Bill,
you are right, “implicated” might not be the best choice of word!
I have edited my post. Thx!

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