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Posted by Elle on April 9, 2007, 2:09 pm
> I have a large sum of money coming my way which I plan to
> use to
> invest in different securities and industries.
>
> I believe I will need a financial planner or advisor to
> help me.
>
> What are the pitfalls to avoid in chosing one?
I think you can avoid some pitfalls by preparing carefully
for your meeting/interview of the potential advisor. Know
something about asset allocation; e.g. try the online links
to quick and free asset allocation tools listed at
http://home.earthlink.net/~elle_navorski/id8.html . Know
something about the historical returns of the stock market,
short (very risky!) and long (historically speaking, not
risky); know what it means to own a stock. Always understand
that the only stupid question is an unasked one (assuming
you put a little effort into answering the question yourself
first via tools like google). Stow this money in a money
market account yielding upwards of 4.5% right now. Then lurk
here for six months.
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