Tom Believes You Can Invest on your Own – to a Point
Transcript:
Katie Nealis:
How successful Can I be at investing on my own?
Tom Vaughan:
Well, I guess, you know, one of the things I look at is really just kind of size of the portfolio that you’re dealing with. I believe personally that for the most part, you can invest on your own, up to a certain level, when things start to get complex, maybe around 500,000 has been my experience where things kind of get complex not to stop you from coming to somebody like us if you have less than that, per se. But basically, what happens is we’re trying to create a resource for anybody to go in, watch these videos, we’ve got them set up, there’s tons of educational content there, and be able to do your own investing upfront, and build up your net worth, and then eventually come over to an advisor would, you know, obviously, I’m biased in that opinion, but I do think things get quite complicated, you know, at 500,000 and above, I think it’s quite easy to become, you know, fairly knowledgeable about the investing arena, I will say the one area that you have to be careful with is you have to have an interest. And so if you’re not interested in it, then you know, somebody else probably do a better job than you. But if you do have interests, and it’s something that kind of fascinate you, that’s the resources that we’re trying to, you know, establish here at with talk money with Tom with the you know, all of these pieces of you subscribe to our channel, you know, we can help you.
Easan Arulanantham:
So, going off that, you know, maybe you have an interest but in we could suggest like a targeted or targeted retirement fund or index funds, so you can still be in the market, but you don’t have to do all the research to, you know, picking themes or picking stocks, and you can still reap the rewards.
Tom Vaughan:
Yeah, there’s some fairly low maintenance, not that difficult concepts. I mean, Vanguards got some great pieces, you know, with the total world index and the total stock market index and etc. You know, you just, you want to be able to understand a little bit of your risk, but again, when you’re talking about, you know, 5000 or $50,000, or something along those lines, if you mess up, it isn’t as expensive it is when you have a million dollars or $500,000. So, you know, you’re exactly right. There’s a lot of ways to get involved with the market without you know, too much challenge as far as that goes, you know, VTi with Vanguard total stock market index is a great place to just start accumulating money. Even if you’re not interested, you can probably get by with that, especially if you’re adding, which I think is critical. Joe got to get somewhere and that you can’t just rely upon market growth. You got to save also in my opinion.