to invest wisely
Transcript, 3 minutes 5 seconds, for use during week of May
Description: Penny, Ira, and Susan review their investment
discussions over the last year
Announcer: Invest Wisely comes to you from Iowa State University
Extension through a grant from the Investor Protection Trust,
providing investor education on the web at: investorprotection.org.
Susan: Penny, it’s hard to believe we’ve been having
these conversations for almost a year. I can’t tell
you how much I’ve learned and how helpful it’s been.
Penny: I’m glad it’s been useful, Susan.
Susan: It really has. I have several investment SMART
goals. That’s specific, measurable, attainable, reviewed,
and time-related goals that I update regularly. They’ve
really helped me stay focused.
Ira: And I’ve been working on my asset allocation. After
we talked about how important it is to diversify, I realized
that I can’t put all my investment dollars in one place. I’m
working on keeping a percentage in stocks, bonds, and cash.
Penny: Diversifying can really help you reduce your risk. You
and Susan have different needs and different long-term goals,
but diversification and understanding risk are critical concepts
no matter what your goals.
Susan: I am concerned about risk, especially when the market
fluctuates or when my investments lose value, but you’ve
definitely helped me understand that all the things we’ve
talked about--planning, diversification, and researching my investments
can really help.
Ira: I particularly appreciate learning about the importance
of keeping good financial records. It’s been much
easier lately for me to find information when I need it--for
my taxes and when I’m making changes in my investments.
Susan: I used to think it was all too overwhelming. I thought
I’d just put my money in the bank and I wouldn’t
have to think about it anymore. But you’ve helped
me understand that there are people and resources that can help
me and it’s made me much more confident about managing
my investments and meeting my goals.
Penny: That’s great. I’m pleased that
you’re both putting the things we’ve talked about
Ira: My new financial advisor has been a big help. She
was really impressed that I had well-defined objectives and a
list of questions for her when we met the first time. Thanks
to your advice, I checked her background carefully and am confident
that I’ve found someone who can help me reach my goals.
Penny: And remember, for more information, visit the ISU Extension
website at extension.iastate.edu and look for ‘Invest Wisely.’