Steve Meckfessel: 40, event organizer, St. Petersburg
By Times Staff Writer
Published November 16, 2003
Q. How did you get started in investing?
Through work. Through the realization I needed to start saving for retirement. I started putting money into a 401(k) in 1992.
Q. What is your best investment so far?
It's really been our 401(k). My wife and I get to pick from a range of mutual funds, ranging from aggressive to conservative. Fidelity Low-Priced Stock Fund has been a good return.
Q. What have you learned about investing that you think others should know?
It's never too early to get started. I was right at 30. I wish I had started much earlier.
Q. How would you describe your approach to investing?
A little too aggressive. A lot of our 401(k) is invested in a low-price fund and an international fund. About 50 percent is in blue chips.
Q. What do you find most difficult about investing?
Probably opening up the market report on a daily basis. One thing I have learned is to be patient. It is a 25-year effort.
Q. How are you invested now?
Seventy-five percent in a 401(k) and 25 percent in a Roth IRA. The Roth IRA is invested in an index fund. In addition to maxing out our 401(k), we're maxing out a Roth IRA.
Q. What changes, if any, have you made in your investments in the past year?
Really haven't. I look at them every quarter. We plan on working another 20 to 25 years and we're as aggressive as we can be, so we'll remain at this mix for another few years before getting a little more conservative.
Q. Do you have a goal for your investments?
We have an 8-week-old infant, so putting what we can into college savings is something we're doing. We really haven't put the pencil to the paper to figure out that magical number.
Q. Where do you get your investment advice?
I read the newspaper, Money magazine, Kiplinger Magazine. My father is an active investor. Grandfather was a banker. They were eager to give advice.
