So you just buy and hold and never sell or only buy mutual funds?
Shawn
Not sure who you were asking, but here’s what I did.
I started with mutual funds only. I bought several different ones and spread my money around in different types.
After 2-3 years I bought some individual stocks, and added to some of the mutual funds. And I just kept doing this, when ever I received a bonus at work or had extra dollars that I could invest. I ended up with 15 or so individual stocks, about 10 funds and six tax free munis.
All of this was done with an investment firm, I didn’t sit at a computer and buy/sell, an investment advisor did it for me. That investment person made recommendations on what to buy or avoid. I met with him once a year and talked on the phone several times a year.
I did not buy and hold everything. If a fund or individual stock was not making a reasonable return “over time” and there was little reason to expect that would change, we sold it. But we were not churning, selling and buying on a monthly/ weekly basis because of a hunch or bad quarter. You have to be patient and be willing to go through come valleys.
In my view finding the right investment advisor/firm is critical. I worked with some executives that were highly successful. I asked them for recommendations on a financial advisor. That turned out well for me.
I made a typo above, 49 years should be 39 years.