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Money panel

JACK ALWOOD: 52, minister, New Port Richey

By Times Staff Writer
Published January 23, 2005

How did you get started in investing?

When I got out of college, I had spent just about everything. We were given some stock by our parents. When we had income enough, started (investing) at age 25, in an annuity 403(B) and other mutual funds.

What is your best investment so far?

Probably Exxon. Started buying at $50 a month.

What is your worst investment so far?

Worst one, I think, was Tyco, a conglomerate that does medical supplies, fire alarms, undersea cable. We had it when it was great and then when it was terrible. We watched it drop on a daily basis but got out before it hit bottom.

What have you learned about investing that you think all investors should know?

Diversify. Read the business page. By the time companies start advertising, they've already made their money and are about to hit top, so the average investor gets in too late after the money has been made.

How would you describe your approach to investing?

Somewhere in between conservative and aggressive. Right now, we're buy-and-hold.

What do you find the most difficult about investing?

Keeping up with the daily fluctuations.

How are you invested now?

We're probably half mutual funds and half stocks.

Do you think now is a good time to invest?

I think very much so. Because the last year was so terrible. It's got to get better.

What is your goal for investing?

Just to have enough to enjoy our retirement and travel.

What is your biggest money concern right now?

Maintaining a home and all the little things that are needed for that. And two kids in college and one in high school.

Where do you get your investment tips?

On the Internet, MorningStar.com. I read the newspaper business sections on Sunday and Monday.

[Last modified January 23, 2005, 00:13:14]