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Times Staff WriterMICHAEL HOLTSCLAW: 60, retired, Indian Rocks Beach
Q. How did you get started in investing?
I just started reading some magazines. I've been investing a little bit since the early 1980s.
Q. What is your best investment so far?
Usually, I invest in mutual funds. In 1990s, Q-Comm - I made a lot of money on it, then lost money on it.
Q. What is your worst investment so far?
I got into technology funds in the early 1990s and lost money on that.
Q. What have you learned about investing that you think all investors should know?
Be a little more conservative. Stay with the basic stuff. When you get to thinking you know what you're doing, you usually don't.
Q. How would you describe your approach to investing?
Pretty conservative, because of my age.
Q. How are you invested now?
Sixty percent in equities, 20 percent in bonds, the rest in cash. I'd like to have a lot more in bonds, but not now. They have to go up.
Q. What do you find the most difficult about investing?
Trying to stay disciplined with it - do your percentages and your goals. Another thing, know when to sell. It's easy to buy, but it's hard to sell.
Q. What changes, if any, have you made in your investments in past year?
Moving more money toward more stable investments like S&P 500 (stocks) instead of real estate and technology type stuff.
Q. Do you think now is a good time to invest?
Yeah, I am going to put a little money in my IRA today. November through January are usually pretty good (months). Now that it's an election year, that worries me.
Q. Do you have a goal for your investments?
Not really, just to have as much money as I can - I've got a pension - on top of my pension to keep enough money to stay right here on the water on Indian Rocks Beach and have a nice life.
Q. What is your biggest money concern right now?
Since these storms, I live on water. My house is paid for. If one of these storms wipes my house out, my taxes would go way up. I couldn't keep living here. I'd have to sell. I couldn't afford the taxes.
Q. Where do you get your investment tips?
Usually, on the Internet. I watch CNN and CNBC.