Economic well-being, and especially stock market investments, have been prominent news stories these days. Tina Larsson, a WIB VIP Member, is an expert in equity investing who has also published dozens of articles and reports on these topics over her 20-year Wall Street career. She has laid out a few guidelines for our members:
1) Conduct a detailed financial evaluation of where you stand today
2) Separate unnecessary or discretionary expenses from necessary expenses
3) Determine how much you need every month to cover your cost of living, and set an amount you have ‘left over’ to invest
4) Talk to a qualified professional; ask trusted advisors for referrals and check references
5) Develop a comprehensive plan that is unique to your situation (not a ‘cookie cutter’ approach)
6) Have an annual, professional review to make sure you are keeping on track, and to incorporate any needed changes based on occurrences and situations that arose in the previous 12 months
7) Stay committed and consistent: remember, slow and steady wins the race!
8) Add as much as you can to your equity investments during market downturns and dips. As Warren Buffett said: "Be fearful when others are greedy. Be greedy when others are fearful."
If you're looking for financial or other experts in the boardroom, let us know about your corporate board opening here. We have qualified VIP Members who are ready to serve.