Successful Investing (Part 1)

Why is this job so difficult? Why is it so hard for people to manage their investments?

One reason is because we just don’t save enough. It’s easy to satisfy our needs today rather than to plan for years or decades into the future. Also, I think we’re hard-wired to consume what we can right away. Centuries of feast-or-famine living may have conditioned us to consume today, because tomorrow may never get here.

But this kind of focus on the short term backfires when we need to make long-range plans—for college, for retirement, or for our heirs.

So we need to save. You can’t invest what you don’t have. The first step to successful investing is to have something to invest. To have that, we need to act like the ant rather than the grasshopper.

Douglas R. Tengdin, CFA
Chief Investment Officer
Leave a comment if you have any questions—I read them all!

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By |2014-09-03T20:37:08+00:00August 4th, 2008|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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