Print

Email story

Comment

Email editor

Money panel

STEFAN SOMMERS: 37, lawn maintenance, St. Petersburg

By Times Staff Writer
Published July 31, 2005

How did you get started in investing?

My accountant talked me into opening an IRA about 10 years ago.

What is your best investment so far?

Probably eBay. I've bought and sold it numerous times and done well.

What is your worst investment so far?

A night club I invested in in Ybor City.

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

Whatever you put into it, expect to get that plus profit out of it because at this point, I don't think we can expect to retire on Social Security.

How would you describe your approach to investing?

I've changed. I was more of a risk-taker. The older I get . . . I play it safe and expect long-term return rather than overnight return.

What do you find the most difficult about investing?

Doing all the research. Trying to make the right decisions.

How are you invested now?

Probably 60 percent stocks and 40 percent mutual funds.

What changes, if any, have you made in your investments in the past year?

I'm a lot more diversified. I was 90 percent stocks. I really didn't understand and believe in mutual funds much. Over the past year, I learned more about mutual funds. I became much more diversified by going into mutual funds instead of hoping for the big home run with stocks.

Do you think now is a good time to invest?

Yes, if you're careful.

What is your goal for your investing?

Just to be able to live the lifestyle I'm accustomed to, which is very moderate.

What is your biggest money concern right now?

Health care, taxes, gas. In my line of work, filling up a truck and equipment went up $15 more every week.

Where do you get your investment tips?

I watch Bloomberg on the television. I have my portfolio on yahoo.com. My financial adviser gives me some good advice without being pushy.

[Last modified July 28, 2005, 19:34:02]