Money panel

MICHAEL "SHANE" WHITLATCH: 36, Realtor, St. Petersburg

By Times Staff Writer
Published October 16, 2005

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How did you get started in investing?

My initial (investment) was my 401(k) plan with my first job out of graduate school, 1994.

What has been your best investment so far?

Split down the middle between real estate and the 401(k) investments.

What is your worst investment so far?

I fell for some of the technology stock plays that became wonderful tax writeoffs the next year, right around 2000.

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

I think you have to have a long-term plan in place. For me, seek professional advice where you can and what you can afford.

How would you describe your approach to investing?

At this stage of my life, I'm probably still considered an aggressive investor.

What do you find the most difficult about investing?

Probably the most difficult thing is when to say no in terms of buying. Everything looks too attractive.

How are you invested now?

Probably 50 percent in funds, 10 percent in trusts for my kids, the remaining 40 percent in real estate and more short-term, liquid funds.

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

I have moved my kids' 529s (college savings plans) to Vanguard 529s and out of my managed funds. I've switched my real estate investing to a different type - looking for more long-term plays on real estate right now.

Do you think now is a good time to invest?

Any time is a good time to invest if you do your due diligence.

What is your goal for your investing?

Right now, I'm focused more on retirement because my kids' college trusts are set up.

What is your biggest money concern right now?

My concern is the speculative real estate investing that is going on. I keep hearing of people getting in over their heads.

Where do you get your investment tips?

The Wall Street Journal every day. I get Smart Money magazine. I have a broker.