Four Keys to Successful Investing

By Jim Wood | Financial Planning

Nov 01

Four Keys to Successful Investing

Successful Investing

Warren Buffet

On September 8, 2015  Beverly Quick of CNBC “Squawk Alley” spoke with Warren Buffett about investing:

According to Buffett: “ I’m no good on what’s going on in the markets . I have no idea what will happen tomorrow or next week and sometimes they get very volatile like this and other times they put you to sleep, but the important thing is where they’re going to be in five or ten years. And I’m confident they’ll be considerably higher in ten years, and I really have no idea where they”ll be in ten days or ten months.”

an investment plan utilizing a systematic approach will eventually pay off

Warren Buffett is arguably one of the outstanding investing gurus of our age and if he does not believe that he can “time” the markets, why should we believe that we, our brokers, financial planners, stock market letter writers, and, especially, television market commentators can make accurate predictions about stock prices and market levels?

As has been demonstrated by Buffet, an investing plan, utilizing a systematic approach will eventually pay off over a long period of time regardless of all market perturbations if adhered to conscientiously.

The keys to successful investing are to

1) Determine your goals,

2) Determine the time you have left to accomplish these goals,

3) Determine a savings plan, and

4) Invest in a fully diversified portfolio.  

With the memories of the Great Recession of 2008 still fresh in our minds, it is understandable if the unsettling stock market of the past few months, would instill in us a sense of panic.

That would be the wrong move.

The right move is to make sure that your investing reflect your goals, your time horizon, and your means .  A Wealth Strategist with a steady hand can help you ensure that you get on the right path and stay there.

Please note: The above blog post is general in nature and not intended to address any specific person’s needs or circumstances.  Investment advice is specific to each individual and is provided only after detailed discussion and understanding of personal circumstances. The above article is general in nature and not intended to address any specific person’s needs or circumstances.   

A previous version of this article appeared in the Colonial Times of Lexington MA

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About the Author

Jim Wood is a Wealth Strategist with Insight Financial Strategists LLC. he specializes in retirement planning and investment planning.