Low maintenance investing…
Low maintenance Investing, in a high maintenance world
As long as we’ve been investors, one thing that has always been on our minds is something that affects everyone. If you haven’t thought about this, then eventually you will. Life can be summed up in two words: High Maintenance.
Think about it. Every aspect of your life requires your attention and time to maintain or improve what you have. You must maintain your health, your relationships, and your finances. Your automobile must be maintained and a lot of other things as well. At Boodle we have recognized this fact, and what we have attempted to do for our clients is to provide them a way to keep their maintenance low when it comes to investing, while maximizing all potential gains for them. We believe that investing should occupy very little of your daily attention, and when properly done, allow you to focus on other things in your life that require your attention.
An excellent financial tool that we deploy for our clients is the use of Index funds. These funds mimic closely the performance of a chosen benchmark, such as the S&P 500, giving you the return of that Index while keeping your cost, and maintenance low. Many people shun investing because they feel it is too hard and requires a lot of maintenance. This can be the case when you don’t take a hands-on approach. When you leave investing your money in the hands of others, you will never develop the skills to make sound judgement when it comes to money management.
Being honest, there are very few people willing to take the time required to pick good stocks and good mutual funds. This is why the Index fund is so useful to those who feel a bit intimidated when it comes to learning how to grow their finances. To be a successful investor requires a little reading, and we would suggest you visit your local library, and check out a book about investing. Start with a book that talks about the Stock Market and how to invest your money safely & easily.
Also watch a financial news channel like CNBC or find something on YouTube that discusses this subject.
Once you have read up on the subject of investing, and feel that you have a basic understanding of mutual funds and stocks, then find a “No- fee” mutual fund family like Fidelity or Charles Schwab and open up your account. By doing this you will not only be keeping your maintenance low, but also your fees and your stress! Goodluck and feel free to reach out to us if you have any questions this subject. Have a Happy Thanksgiving, and we will see you back here next month as we wrap up 2021 for our Boodle members.