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Writer's pictureRobert Allamon

4 Investment Tips for Young Medical Professionals

Updated: Apr 18



Successful investing depends on choosing the right allocations for your portfolio, but equally

important is having the right attitudes toward investing. Developing these four attitudes can

contribute and help you be successful.


Remember, saving is a prerequisite for investing.


No one saves money on accident! It is an on-purpose activity. For instance, if you are counting on leftovers in your budget to feed your savings, there is often something to spend that money on rather than saving it. A good way to be intentional about savings and to avoid impulse spending is to turn savings into a monthly expense line in your budget. This eliminates the temptation to spend funds without planning. One of the best ways to make this happen is to use an auto-deposit feature. Auto-deposits allow you to automatically transfer funds from checking to savings each month without having to remember to move it. Investing grows out of the overflow of savings. Intentional saving may support active investing.

Think long-term.

We live in a world focused on instant gratification. We want results and we want them now! We want fast food, short grocery lines, and instant cash. Investing, however, is not an instant results proposition. To be a successful investor, you need to resist the call of the instantaneous and foster a long-term way of thinking. One way of doing this is to choose an investment strategy and stick with it. Be disciplined! Avoid following the latest fad or hot stock tip. Don’t allow volatility to turn you into a “trader.” Instead, choose a solid allocation that is in alignment with your values and future goals and stick with it.

Stay focused on the big picture.

Sound investment decisions require a context, a big picture to operate in. This big picture is created by your unique set of values, goals, and priorities. Focusing on the big picture helps you to avoid distractions and maintain a proper perspective, particularly in volatile times. Whether your big picture involves a new home, college education for the kids, or an early retirement, keeping these goals front and center and aligning your investment decisions with them can help assure a greater possibility of success.

Don’t bail when things look bleak. Easier said than done, right? So how do you hang in when you feel like getting out? Try these habits. First, keep things in perspective. Reminding yourself of your long-term goals and not looking at your portfolio too frequently can help. In down markets it’s often a good idea to match your “look interval” with your investment time horizon. For most people, quarterly or annual reviews should be sufficient. Second, ignore the noise. Don’t be easily influenced by recent news, events, or experiences. Although it can be hard to tune out all the racket, this can lead to unnecessary or erratic decisions that cause you to stray from your goal. If the noise is too hard to ignore, at least filter it. Using a broad view of your situation and working with a trusted advisor can help you discover another point of view that you haven’t considered.


At R&R Financial Advisors, we are assisting young medical professionals to develop and

implement sound investment habits.

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Investment advisory services offered through Brookstone Wealth Advisors, LLC (BWA), a registered investment advisor.  BWA and Brookstone Capital Management, LLC are affiliated companies. BWA and R&R Financial Advisors, LLC are independent of each other.   Insurance products and services are not offered through BWA but are offered and sold through individually licensed and appointed agents.

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