Welcome to a new week here on the Retirement Quick Tips podcast. I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor, and I started this podcast because I love helping people just like you gain clarity and make a plan for the retirement you envision. The theme this week on the podcast is: Investments I Hate!
I’ve reviewed a lot of investment portfolios over the years. Whenever a potential client and I start down the path of working together, I always evaluate their current holdings. So I’ve seen hundreds of portfolios over the years and many thousands of different investments - some good, some bad, and a handful of sell-that-right-now-and run kind of bad.
So this week, I’m sharing with you my 5 most hated investments. If there’s a common thread that links these investments together it’s that most are expensive, complex and difficult to understand, and the risk-return tradeoff doesn’t justify the investment, or worse, the investment product is so new that there is no historical track record, and hence, any return potential is speculative at best.
Frankly, that’s always a good rule to follow: if you’re considering an investment and it checks any of these boxes, it’s probably not worth investing your hard-earned money.
Of course, you could make a case that for many of my hated investments are in fact, prudent choices for the right investor, but in my experience, these investments are held by too many investors who would have been better off saying no.
The good news is that even if you said yes, and you’re cringing or maybe getting a little defensive this week as I discuss these hated investments, if you decide that you agree and you want to get out, most often there’s still always an out - it’s not a timeshare we’re talking about here.
Although now that I think about it, maybe I should have added timeshares to the list. Or maybe not…I don’t consider timeshares an investment, it’s a vacation that you pay for in advance, but I digress.
I hope what I have to share with you this week will help you make smart and thoughtful decisions with your retirement. And while I am careful to not lead you astray, personal finance is not an exact science. There is no one-size-fits-all solution for everyone, so I encourage you to disregard anything I say that may not be helpful for you, and to consult your own financial, tax, and legal advisors regarding your own individual situation.
That’s it for today. Thanks for listening! My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.
Subscribe on Apple Podcasts: https://apple.co/2DI2LSP
Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs
Visit the podcast page: https://truenorthra.com/podcast/
Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance