Okay, it's me again and you might be wondering what I'm doing? (or what Jeff's not doing) Well, as I said in my last blog, I would take us all back to basics, so wanted to continue on this theme, so here I am.
I'm not the financial wiz in this duo (you might have guessed) and I usually get Jeff's opinion on this investment stuff, so I've been thinking, I'll figure this out myself and in the process - learn something too. So I went on a mission to find the easiest financial planning, investing made easy, financing for dummies books that I could find ... that was a task in itself and involved me viewing rows and rows and rows ... and rows of financial books in the local library. It's a challenge indeed to figure all of this financial and investment stuff out on your own, which explains what our primary objective is with this blog, to take the guesswork out of investing.
Ironically (or maybe not) all of The Wealthy Barber copies were already on loan. Hmmm, sounds like there's an appetite out there for this basic financial planning stuff.
So, I ended up bringing home seven (7 !)books, all of which have tons of information... but the question remains - is it easy enough to understand, and, are regular people able to incorporate the information into their lives without requiring an MBA or a PhD in business?
As I digested the contents of the mountain of reading material before me, I began to realize that most of the content of these financial guides shared a similar theme: get back to basics. This begins with assessing your financial fitness and goals, setting a budget (which we did in the last blog) determining what you have to invest and understand your risk tolerance. Easy enough.
The next step is to build wealth (grow your money, get rich slowly)) through investing - since that's what we're all about at DIGestingINvesting!
As you begin to put all of your objectives in line, connecting the dots, it is also imperative to factor in your age. This is very important due to the timelines you have ahead of you and the actual amount of time that you have to achieve your financial goals. Still kinda easy, eh?
Group 1 - age 17 to 25
Group 2 - age 26 to 38
Group 3 - age 39- 50
Group 4 - age 51-65
Group 5 - over 65
For each age group there are different suggested portfolios and risk factors. Risk ranges from conservative (for older investors who have fewer long-term financial needs) to average risk for (the majority of people who have a longer time to achieve their financial goals) to aggressive (for younger investors who have a longer time to achieve their financial objectives).
So based on age and risk factor, there are 4 investment categories : protection, income, growth and speculation. By determining where you fit on the risk spectrum, understanding the benefits and the risks associated with each category, you will have a good balance of safety and growth. This will ensure that you remain within your investment 'zone' and most importantly, get a good nights sleep.
In the next blog, we'll review each of the investment categories in more detail.
But now, I am pretty excited to reveal the recipe for the BEST GREEK POTATOES EVER !!!
I made them for Jeff's birthday party last Saturday and they were a big hit and today I thought I would post them in this blog. They are so easy to make... and delicious ...
Great Greek Potatoes
Heat oven to 375 F
5 or 6 Russet Potatoes, peeled and cut in half (make them all similar size)
1/2 cup olive oil
1/4 cup lemon juice (or to taste)
1 tsp dried oregano
1 tsp dried thyme
2 cloves of garlic chopped
Place potatoes in a baking dish ensuring that all the potatoes sit on the bottom of the dish.
Mix all the other ingedients together, and pour over the potatoes
Cover and bake for about 1 1/2 hours... being sure to turn the potatoes, once in a while, and being careful not to let the broth dry up... if so add more olive oil and lemon juice (mixed together)
Enjoy... OPA!!!
Thanks everybody for stopping by and be sure to check out our next blog where we will take a closer look at balancing your investment objectives with your timelines and your appetite for risk.
DIG IN !
Beverley and Jeff
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