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Money panel

RUSSELL VAN ZANDT: 64, entrepreneur, St. Petersburg

By Times Staff Writer
Published October 30, 2005

How did you get start in investing?

When I was about 10 years old, in the 1950s, I had some extra money and my grandfather advised me to invest $300 in W.T. Grant Co.

What is your best investment so far?

Stock options that I had with various companies I worked with. My best investment was in myself.

What is your worst investment so far?

Oil wells.

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

Do your homework. (Invest in) what you know. I know about medical device companies, so I invest in medical device companies.

How would you describe your approach to investing?

I would say I'm a moderate risk taker.

What do you find the most difficult about investing?

Reading all the reports.

How are you invested now?

I'm probably 30 percent real estate, 30 percent mutuals and 40 percent stocks.

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

I'm starting to go more conservative, more income-producing as opposed to appreciation.

How have you gone about making those changes?

I switched to more income-producing mutual funds and stocks.

Do you think now is a good time to invest?

Any time is a good time to invest. But you've got to know what you're investing in.

What is your goal for your investing?

My goal is to, eventually, over the next several years, convert to an income stream off my investments to support me.

What is your biggest money concern right now?

Taxes.

Where do you get your investment tips?

Two things regularly: GorillaTrades.com and Ameriprise Financial.

[Last modified October 26, 2005, 18:27:02]