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Money panel
By FRED W. WRIGHT JR.
Published May 7, 2006
STEVEN COATES48, small-business owner, St. Petersburg How did you get started in investing? I can remember back at 14 when my grandfather started teaching me about stocks and bonds and investing, then my father. At 19, I bought my first stock. What is your best investment? Index funds and equity index annuities. What is your worst investment? A CD (certificate of deposit). What have you learned about investing that you think all investors should know? I think that the most important thing I've learned is that asset allocation is very important and it is equally important as the asset itself. Reallocating your portfolio every year. How would you describe your approach to investing? Moderate. I'm in it for the long term. I don't try to beat the market every year. What do you find the most difficult about investing? Reallocating when you balance your risk tolerance with potential interest available. How are you invested now? It would probably break out to 40 percent indexed funds, 20 percent CDs, money market and savings, and 40 percent fixed annuities. What changes have you made in your investments in the past year? The portion of my savings for my kids' college funds this year were moved to a more conservative investment: bonds. Do you think now is a good time to invest? Absolutely. I'm in it for the long term. If you're patient and just invest every year and don't worry about the ups and downs of the market on a monthly basis, you're fine. What is your goal for investing? I don't really have a specific goal. I would like to be in the 9 to 11 percent (annual) return in the long haul. Then shift my risk tolerance toward the conservative side as I get older. What is your biggest money concern right now? Adequate retirement savings so I can continue the lifestyle I'm accustomed to. Where do you get your investment tips? First and foremost, my father. He taught me well. I read some selected publications - Wall Street Journal.
[Last modified May 7, 2006, 06:30:18]
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