Wall Street is full of high sounding, feel good sayings about investing. Al Thomas of Mutual Fund Magic has put together what he calls The Wall Street Ten Commandments that he says will send you broke.

I suggest you get them framed and hang them on your wall. Then when ever you need to talk to your financial planner stand in front of them and recite them several times. That way you might just avoid falling under their spell when you talk to your financial wizard - er I mean adviser.

Wall Street’s Ten Commandments that will send you broke

1. Do Research
2. Buy and Hold
3. Dollar Cost Averaging
4. Diversify
5. Buy a good stock and put it away
6. You can’t afford to be out of the market
7. Never try to time the market Read the rest of this entry »

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I had an email the other day from Paul one of my subscribers. He asked, “What was a good Stop Lost Percentage to use? He went on to ask if I could provide more information that might help him.

I thought I would answer his question using a post to my blog. However I need to point out that I am not a financial advisor. The information here is based on what I would do personally. You will need to make your own decisions or consult your trusted financial advisor before proceeding.

One concern I do have though is if you have never used stop losses before try using them with small position sizes first using money you might have that is not in your nest egg. Also there are times like now where the market is so volatile it might be best to sit on the side lines. Read the rest of this entry »

We Baby Boomer need a list of Financial Planners who genuinely want to help us protect our Nest Egg in retirement, avoid large losses and make it last as long as we do.

In my research on how to protect my nest egg in retirement I have come across three so far that I believe are moving in the right direction or have systems in place now that are designed to protect my nest egg.

Each take a very different approach,but all display a genuine aim to help us protect our retirement nest eggs and all have a system they use or promote to manage our nest eggs.

They are all financial planners but they are independent thinkers and are not mutual fund sales people masquerading as financial planners.

Read the rest of this entry »