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Set Up

  1. Preparation - A description of determining risk levels and term of investment
  2. Set Up Accounts - Getting started with the necessary accounts
  3. Picking Investments - Investment options discussed

Once you have determined your risk and know how long you intend to be invested, you are ready to set up accounts and get advice if and when necessary. Setting up accounts is fairly simple but decide first if you need an investment advisor. Once you decide the kind of advice you need or want find the person to help you or begin reading and continue in the process.

Working with an Advisor – if you decide you need a lot of advice, finding the right advisor is important. Be sure the person you engage is accredited and has experience in the field of comprehensive investment advice. We recommend a Certified Financial Planner. Understand the work that they will do for you and what you will pay them. Advisors can be found on this site and other sites linked to this web site.

Getting some help – Most financial institutions will give limited help when you set-up account, go in for a visit, or go to there web site. You will need to shop around for the one that is best for you.

Doing it Yourself – If you have a small amount of money you can invest yourself and most institutions that would be setting up your accounts can help.

Setting up Accounts – Your money will be in either a taxable account or a tax-deferred account (IRA). All institutions can set these accounts up for you but the institutions that give you the most flexibility of investments will be best. The basic institutions are Banks, Brokerage, and Discount Brokerages. They each charge differently and offer different services which you will need to decide which you prefer.

Determine Asset Allocation – You already know which ‘bucket’ you fall into (Conservative; Moderate; or Aggressive) and therefore can now decide what percentage you want in Cash, Bonds, Equities – Domestic or International. Write these percentages down so you can rebalance from time to time and so you will know (remember) what you decided. You are now ready to pick the investments to purchase.