I needed money. I started working in the late 1970s. I started with stocks and metals.
Q. What is your best investment so far?
Nothing in particular. My 401(k) went down during the down time in 2000-02, but we've pretty much got back to where we were. Take out those three years, it's done well.
Q. What is your worst investment so far?
I had gold and silver for about 10 years, from the late '70s to the mid '80s. Got nothing out of it - I sold it for what I put into it.
Q. What have you learned about investing that you think all investors should know?
Two things: diversify and think longer term. I think you definitely have to look at that, plus when things seem really, really low and you've given up, that's the time to buy. I got in (the stock market) in October 2002 and for the next 14 months, I made about 40 percent in stocks.
Q. How would you describe your approach to investing?
Just go on the basis of what the price is. I've tried everything else. I think that if you just buy at a 52-week low, you're better off than (with) any other method. The price reflects the other variables and factors.
Q. How are you invested now?
About 75 percent in my 401(k) and 25 percent outside the 401(k).
Q. What changes, if any, have you made in your investments in the past year?
At the beginning of the year, I put my investments into value stocks instead of small cap. That was in my 401(k). Outside the 401(k), I'm in health care.
Q. What is your biggest money concern right now?
I guess the concern would be looking at medical costs and insurances and all of that. That would be the biggest drain. Could wipe you out in a hurry.
Q. Where do you get your investment tips?
I do research things. I do have a full-service broker. Through him, I do subscribe to a couple of investment service references. I also search the Web regularly.
