investing

5 key tips for self-directed investors

5 key tips for self-directed investors
5 key tips for self-directed investors © Monkey Business Images/Shutterstock.com

When Jeffrey Krein, a Bucks County, Pa.-based retired professional photographer, gets sick, he sees a physician. If his tooth aches, he sees a dentist. But when it comes to his money, Krein masterminds all of his investments.

He read a book on stocks and opted to invest in a balanced portfolio of large-cap stocks and real estate investment trusts, or REITs, which have done well over the years. He declined to hire a financial adviser and fork over 1 percent of his assets. After the Bernie Madoff fiasco, he wasn't sure he could trust anyone.

Best Banks for Savings -- View Today's Rates!

But when people who have no degree in finance or little experience in investing assume control of their finances, what are the key things they must do? And what are the risks to avoid?

Following are five tips for self-directed investors.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

Move money to retirement account?

Dear Liz, Can I convert my regular investment account to a retirement account so that an investment made in that account is not taxed? If so, what type of retirement account can I choose? -- Jennifer Dear Jennifer, It's... Read more

advertisement

Blog

Dr Don Taylor

Greece fire can’t be doused

Greece is playing a very dangerous game of chicken with its creditors and the European Central Bank (ECB).  ... Read more

Partner Center
advertisement

Connect with us