The 7 Habits of Highly Effective Investors 

The 7 Habits of Highly Effective Investors 
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     One of the best selling and most influential non-fiction business books of the 20th century,
The 7 Habits of Highly Effective People by Stephen R. Covey, continues to inspire millions to this day.
   In this newsletter we take Covey’s common sense philosophy, or 7 Habits, and convert them into common sense financial investing tips.

 

Warm regards,

 Signature

Catherine Maniscalco Avery

 

The backbone of CAIM is to employ a classic long term investment strategy including dividend paying stocks. CAIM is an independent, women owned investment management firm specializing in managing investment portfolios for women and baby boomers.

203.966.2712  p
203.966.5697  f

June 17, 2013|  Issue No. 43
In This Issue
The 7 Habits
Div. Champs & Longevity
Looking Good, or Not?

Quick Links

Find Out More
Call me at 203.966.2712
or visit www.caimllc.com.

 

The 7 Habits of Highly Effective Investors 

 

1.  Be Proactive
Being proactive is the number one priority for successful investing.  As an investor you need to take an interest in, and be aware of, your finances.  This is particularly true for women or couples where one partner may be the financial “expert” in the relationship.  Simply attending meetings with accountants and/or financial advisors, and knowing where the financial documents are located and how to access them, goes a long way to staying on top of things.

2.  Begin with the end in Mind 

What are your financial goals?  How do you envision your retirement years?   It’s important to have at least some idea of what your money is working towards as you near retirement. Here are some questions to consider right now:  Where will you live when you retire?  What hobbies will you engage in?  Will you travel a lot to see your family and children?   Just thinking about these questions will help you envision and plan for the types of expenses you’ll have in retirement.

3.   Put First Things First

All too often peoples’ initial obstacle to financial planning is simply getting started.   It can be overwhelming knowing that in an ideal world you should be setting up and funding a retirement plan, a savings plan, as well as an emergency fund.              If there is any one thing you should do now, it’s set up a retirement account.   Two critical reasons you want to maximize your contributions to your retirement plans are; you reduce your tax liability and you save.   And while people are often worried about funding college plans, in actuality you can access your IRA funds to pay for your kid’s college education.

4.    Think Win-Win 

Dividend stocks are a ‘win-win’ option because they offer the best of both worlds.  You receive cash from the dividend and stock appreciation.  Even in years when the market goes down (and it will), with dividend stocks you will still receive that dividend payment.

5.    Seek First to Understand, Then to be Understood

Be clear about what you want and honest with yourself about your willingness to take risks with your money.  Don’t be lured into taking unnecessary risks by other people bragging about all the big returns they’ve gotten on the stock market.   Don’t forget that losses are possible too, and you may not be hearing the whole story.

6.   Synergize

Work with an advisor.  An experienced professional will not only advise you on all aspects of investing, but keep you on track as well.  An advisor is someone you can go to when changes in your plan arise, or when things get tough.

7.   Sharpen the Saw

Peace of mind is the key to successful investing. Your stocks should be a reflection of your values and priorities in life because when you’re comfortable with your investments, you are less likely to make knee jerk reactions.  When you’re happy with what you have, you won’t buy into the day-to-day mania of the markets.  Chasing market movement will only destroy your investments.  So pick a discipline that’s right for you and stick with it.

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Dividend Champs and Longevity 

Several times a year we like to showcase a few of our stocks with compelling increases in their dividend….Read more >>

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LOOKING GOOD, OR NOT?  

The Economic Realities Behind All those Positive Headlines

Everywhere we turn headlines and news pundits seem to repeat the same upbeat messages…Read more >>
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©Copyright 2013, CAIM LLC

Disclaimer: NO CONTENT PUBLISHED AS PART OF THE CAIM LLC NEWSLETTER CONSTITUTES A RECOMMENDATION THAT ANY PARTICULAR INVESTMENT, SECURITY, PORTFOLIO OF SECURITIES, TRANSACTION OR INVESTMENT STRATEGY IS SUITABLE FOR ANY SPECIFIC PERSON.  TO THE EXTENT ANY OF THE CONTENT PUBLISHED AS PART OF THE BLOG MAY BE DEEMED TO BE INVESTMENT ADVICE, SUCH INFORMATION IS IMPERSONAL AND MAY NOT NECESSARILY MEET THE OBJECTIVES OR NEEDS OF ANY SPECIFIC INDIVIDUAL OR ACCOUNT, OR BE SUITABLE ADVICE FOR ANY PARTICULAR READER.  EACH READER AGREES AND ACKNOWLEDGES THAT ANY SPECIFIC ADVICE OR INVESTMENT DISCUSSED IN THE BLOG MUST BE INDEPENDENTLY EVALUATED BY THE READER AND HIS OR HER ADVISER IN VIEW OF THE READER’S INVESTMENT NEEDS AND OBJECTIVES.

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