in an email I got today...
You can be diversified in one place.
Dear Keith Lambert,
Diversification doesn't mean keeping your money with multiple investment firms. It may be more costly and difficult to manage your portfolio that way. A diversified portfolio is composed of investments spread among different asset classes, aligned with your objectives and risk tolerance. And when you consolidate your ...
Blah Blah Blah
To start diversifying today, call 800-XXX-XXXX or visit Fidelity.com.
Thank you for your continued trust.
Executive Vice President
Personal and Workplace Investing Services
Fidelity Brokerage Services LLC
The Gall of the stock trading industry and the suckers who believe them to be telling you the whole truth in their marketing materials. One must have an outside person like a real smart CFP. (e. g. www.WealthPinnacle.com) Or be smart on your own. "Diversify" does not mean having different types of risky investments with one stock brokerage house!
Use someone who gets the bigger picture to help you Diversify. You do have assets. You need to think about all the different assets. From the coin in your pocket to the back of the storage closet with that antique nick knack. Then review your financial position and goals.
Think of long term financial things in this light...
- Some in cash. (Not all in the same bank.)
- Some in a growth fund. (see above)
- Your Single Family Home. (gotta have a First Trust Deed)
- Some in income producing Real Estate. (Call me please - It's what I do)
- Some in an Insurance Policy with an annuity. (leverage tool for retirement)
And if you own your own business you need to back that up with Key Man Insurance.
So of the above items... do you have all 5?
Where do you Diversify too?