Clients come to the office every week and ask this question. I am amazed at the number of families that own investments and they don’t understand what they have. They have either forgotten from the time of the purchase of the investment what they bought or never understood what they bought and just took the salesman’s advice. The bottom line is that they don’t know what they own and they worry that what they own is not right for them.
When you evaluate an investment to determine if it’s right for you, there are a number of considerations. These things should reveal the answer to that big picture question. Is this investment right for me?
- How much risk does this investment take?
- How much liquidity does this investment provide?
- Is this investment available to a nursing home?
When we evaluate an investment, these are the main issues that we explore with clients. Most importantly we look at all other investments and savings and we look at how the investment in question fits into the entire portfolio. Remember that your savings and investments are like pieces of a puzzle and if properly coordinated can make a great picture. You must look at all investments together, not just one piece at a time.
Please refer back to the blog in the future as I talk about how risk, liquidity and nursing home protection affect investments. Additionally, I am always available to answer questions regarding your investments. Feel free to call and ask for me personally. 1-800-798-5297
