Thoughts on Investing

More Thoughts on Investing from David E Hultstrom

• Sell wisdom, not products or transactions.
• Good clients are wealthy people who delegate.
• Current market valuations frequently change expected returns.  They much less frequently change the proper investment strategy
• Financial success is having more than you need.
• One of the best fixed income investments is paying down debt.
• Don’t trust your peers or your firm.  If you can’t or won’t do your own due diligence on a product, don’t sell it.  If you can’t explain a product to an engineer, don’t sell it.
• 4% is the sustainable withdrawal rate over a 30 year period for a portfolio that is predominately, but not exclusively, stocks.
• IRA and Roth type investments beat insurance products hands down.
• Base your business on fees rather than commissions as much as possible.

• Read books (not magazines and newspapers) on investing (not sales).