I had my own business - auto parts. I started mainly with IRAs, probably in the early 1970s. I went through different investment services. A little in the stock market. Nothing big.
Q. What is your best investment so far?
The investments that IDS-American Express, Investment Diversified Services of American Express, represent.
Q. What is your worst investment so far?
Probably Checkers. I bought high and then they had a reverse split, and then I sold it for a loss.
Q. What have you learned about investing that you think all investors should know?
It's great to know the individuals (investment counselors) you're dealing with. The two people I've been using for years, I pretty much go by what they say.
Q. How would you describe your approach to investing?
Very cautious.
Q. What do you find the most difficult about investing?
Depending on what the advisers tell me. Knowing when it's the right time to do this or buy that.
Q. How are you invested now?
Very little in money markets, some in stocks, some in bonds, some in mutual funds, some in annuities.
Q. Do you think now is a good time to invest?
In my own situation, with my age and everything . . . I just move things around. Right now, I'm cautious - just stay on the fence, so to speak.
Q. What is your biggest money concern right now?
Just that the insurance companies and country stay good. By the stock market staying up, that's even better. Everything I have is pretty safe, so I don't have to have a big concern in the stock market. That's why I took the lifetime annuities a few years ago.
Q. Where do you get your investment tips?
From the IDS representative or (the representatives) I have at (Thrivent Financial for Lutherans).
