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Money Panel: Don Fazio, 49, mortgage broker, St. Petersburg

By Times Staff Writer
Published February 25, 2007

How did you get started in investing?

My family always saved, so as soon as I was financially able to, I started with a basic savings account. I started with some blue-chip stocks when In was 30.

What has been your best investment?

Believe it or not, my home. I bought in 2001 and it went up 25 percent a year - until last year.

What is your worst investment?

Danka stock.

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

I learned patience. Not to react sometimes. And to diversify.

How would you describe your approach to investing?

I'm moderate. I will take risk only if I feel I have done all my homework and I have some kind of control.

What do you find the most difficult about investing?

Taking the time to do the homework. Also, finding good tenants for your rental properties.

How are you invested?

I have a savings account, CDs, 401(k), homes, stocks. Pretty balanced.

What changes have you made in your inverting in the past year?

I would not buy new buildings. You can find a much better deal with existing (homes).

Do you think now is a good time to invest?

Absolutely. You make your money not when the market is going up. You make your money when the market is going down. You buy low.

What is your goal for your investing?

I want to be retired in my 50s.

What is your biggest money concern?

I pay special attention to what they're doing with the Federal Reserve, what they're doing with the prime rate. The interest rates are what control my destiny.

Where do you get investment tips?

I have a team of people I refer to. I look for similar opinions. When diversified people tell me the same thing, I feel comfortable. I do go to SmartMoney.com and Bloomberg.com - quick and easy. Two great sites.

[Last modified February 23, 2007, 19:41:27]