Who Should Manage Your Money?

Do you feel like your current broker has been mismanaging your money or is burning you with fees? Are you happy with how things are going with your investment strategy but wonder if they could be even better if you were handling them?

Whatever your investment arrangement is it's important to make sure the right people are managing your money and sometimes that person can be you. This can be risky if you're not sure what you're doing so here are a few questions to ask yourself-

Can you write down your investment principles right now? How about what you look for in a stock?

If you answered no to either of these, handling your own investments may not be for you. When managing investments (yours or anyone else's), it's important to make sure that you have a consistent strategy and discipline in how you invest. The market is too complex and volatile for spur of the moment decision making to be anything but gambling on stocks. You should be familiar with any and all information available to shareholders, much of which can be found very easily online.

If you want to consistently make money while managing your risk you need to have a streamlined and well informed process you apply to all investments. Obviously there is a lot more to managing your own money than this but I hope this helps if the thought of managing your own investments has crossed your mind.

By: Owen D

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