Published: April 29, 2020, 6:44 p.m.
Meet Rick Bloom of Bloom Asset Management. He's been helping people with their money since 1984.
In our first episode, Rick covers some of the basic tenets of investing, including:
- You need a plan
- Everyone's plan is different
- There's no such thing as a risk-free investment
- Purchasing Power Risk
- The importance of diversification
- The dangers in trying to "time the market"
- The difference between investing and gambling
- The importance of "tending your garden" or rebalancing your portfolio
- Focus in your allocations, not your investments
- Buying low and selling high
- Don't be afraid of taxes
- Opportunities in our current world of market volatility
- Roth Conversions
- Making 2020 IRA contributions now
- Tax Harvesting
- Estate Planning
- Importance of Medical Durable Power of Attorney
- Cash Flow Statement and Family Balance Sheet
- Emergency Funds
Resources:
Email the show: Rick@RickBloomTalksMoney.com
Bloom Asset Management Website: http://www.bloomassetmanagement.com/