Tom Dorsey Enterprises
Tom Dorsey Enterprises
Planning and Portfolio Development
We recommend you create a plan that meets your needs and defines the risks you are willing to take.
What is your starting point? How much do you have saved at this time? Do you have a savings account/emergency fund?
What are your goals? What is your endstate? Where are your milestones to track your progress?
Once you reach your goals, your endstate, what is your investment strategy then?
There are some stocks to buy and hold. I am not sure there is a forever stocks, but there are good companies to hold and be evaluated for the long term stability.
Some investors like to constantly buy and sell stocks. There can be value to this process, but the investor has to consider the cost of every transaction fee, and if they have to pay taxes on what part of the income. At this point, if possible, I recommend using your IRA funds that are not taxed until you take them out. All we have to worry about at this point is growing your portfolio.
Milestones are important to identify as markers to gauge you progress. Few do this, but I encourage this because the few truly successful use milestones to ensure success. It gives you a measure to ensure you are on track, or if you need to take additional steps to catch up, or expand your opportunities.
What is an endstate? The realization of your goal. When you reach it, where do you go from there? How does your investment strategy change, or stay the same?
Focus on these in your planning and you will be successful.
What do you want to invest in to get the desired return and meet your risk assessment standards?
Our recommendations here are based on past history that does not always translate into future events. We present the facts the way we view the markets. There are risks that we see and willing to take in the investments. I put my money in the same investments I recommend here.
We make recommendations on individual companies. Although there are times to invest in funds to spread your money across many stocks, we usually recommend a stock by name.
Many recommend diversity. I like to recommend focused concentration on stocks that do what you want them to do.
Our stock recommendations are on the following pages, and although we invest in them, you must follow your planning and ensure these investments are right for you.
Create a portfolio tracker by signing in at Yahoo.com and on the finance page, create your portfolio tracker. I have one for my actual account and a second for stocks I am watching. Make it work for you.