Soar or Plunge - A tale of informed investors

If you walked into an elevator and the only buttons to push were labeled soar or plunge - which one would you choose.  I ask this question occasionally in my talks.  I get varied answers, mostly people answer soar.  I then go into my dissertation about Charlie flying in the glass "Wonkavator".   I assure you, both answers are incorrect. Neither answer brings peace of mind or safety.

I'm not sure exactly when the news started making the news instead of reporting the news, but one thing is for certain - the media has an axe to grind. They seem to want to report only the stories that are shocking, breaking, or mind blowing.  We can't hate them for it, they are just trying to sell advertising and keep you watching, but what are you supposed to do with the flood of informations and often misinformation about the markets and your money?  It has been said that knowledge is power.  Some people think that information is knowledge, but information is information.  Knowledge is information and enough scars (experience) to know what to do with the information.  I would encourage anyone that is concerned with the future of their money or their retirement to seek professional advice.  We know things that you don't. Will Rogers said "It's not what you don't know that's the problem...It's what you know that ain't so".  Unless you are reading 10 economist's weekly notes, studying monetary policy, the yield curve, interest rates, trends, and sentiment - then you need to hire someone. In the end, find somenone that you know that has money and ask them who they use.  Interestingly enough, if you were to ask someone that you know has money, my bet is that they are using someone. Soar or plunge? How about plod or cruise? I like those better. You can visit me at http://www.ameripriseadvisors.com/james.w.mewborn/?BNR=solc%5Fid%3D23709%26vend%5Fcd%3DALA%26offer%5Fid%3D1315 for more information.

The Plate Lickers - An Investment Seminar Tale

I do seminars as part of my marketing strategy.  We strive to provide our customers and prospective customers with a memorable experience.  I've noticed recently that some repeat offenders have taken my hospitality as a public service to feed them every month.  Don't they know that I have only invited them so that they can meet me and see that I am a good guy so that they will move their account to me?

Whoa cowboy - my thoughts and emotions go there so easily.  I met with a retiree from one of my recent seminars to hear his "story".  It was remarkable.  He is a veteran of the Vietnam War and retired early because of his disciplined saving strategy.  He and his significant other doesn't have much, but they do okay.  He is able to winter in Florida and summer in Michigan. Vic is a collector of vintage hotrods and sells one every once in a while to finance some new venture.  He was a treat to talk with.  He doesn't need financial planning because he doesn't have much in money, but he is rich in history, nostalgia, and cats (he has 4).  His outlook was a refreshing reminder that I manage expectations as well as people's money.  I look forward to getting to know Vic a little better.  To learn more about my services - please visit http://ameripriseadvisors.com/james.w.mewborn/?BNR=socl%5Fid%D23709%26vend%5Fcd%3DALA%26offer%5Fid%3D1315

The Do It Yourself Investment Disaster

One of my favorite channels is HGTV. The shows create a false sense of security and gives me the confidence I need to really screw up a home project.  DIY investing is no different.  I spoke to one of my clients today that wanted a bond quote and was disappointed that he couldn't find the ticker symbol for the bond.  Well, there isn't one.  This guy is so ignorant about the credit markets, I didn't know where to begin.  It reminds me of the time that I tried to do a bathroom remodel in our master bath.  I bought the counter top, the mirror, the new light fixture, etc.  When I started installing the items, I ran into those unforeseen and unexpected roadblocks that occur in all remodels.  You know what I'm talking about.  For example, the new counter top had 2 sinks (a feature my wife desired), but there was only one drain.  After I ran into about 3 more of those roadblocks, i decided to call a plumber - 3 hours and $500 later, he had everything installed correctly without leaks.  I learned then that the money spent was well worth it.  When I got home from work, the bathroom was operating properly.  I peeked down below to ascertain how the plumber managed to construct the pipes, drains, etc.  I was impressed.  I neither had the equipment or the know how to accomplish what I was staring at. In short, I needed a professional because I didn't know what I didn't know.  My client is no different.  I shook my head in a very silent but condescending way over the phone in response to his ignorance.  My hope is that he will look to me to guide him in his investments and continue to pay my fee.  I wonder how many professionals and tradesmen have laughed at me after they got off the phone.