Question: I have been using the same investment person for years. Lately it seems like my investments just are not going anywhere. I know the markets have been up and down lately, but I guess I was hoping for better. How do you know when it’s time to fire your investment person?
Answer: Before you fire your investment manager, make sure you know who you hired. Or at least, who you thought you hired.
The countdown to 2016 has just about begun. If you’re like many people, you might be mulling over some New Year’s resolutions, such as hitting the gym more, learning a new language or taking a cooking class. All are worthy goals, but why not add some financial resolutions as well?
I usually do not dabble into labeling groups — good or bad. I’m a product of the politically correct generation brought up on politically correct Disney Channel shows. It’s in my nature. But I will make an exception to my rule today.
In most areas of the world, a “family friend” means exactly what it says: a family friend. To most Southerners; however, a “family friend” means an extension of the family — even ridding of the two words altogether.
For example, I call several of my parents’ friends my aunt or uncle because they treat me like I am their nephew.