The KISS Principle

We often fall so in love with the tools we have at our disposal that we feel compelled to use them.  Investors have so many choices and investment vehicles that they often overcomplicate their financial lives.  This can work very much against them.

IRAs, 401(k)s, life insurance, annuities, trusts, 529 plans, hedge funds, options – and the list goes on – all have their uses.  However they often are neither the best nor the simplest way of solving our financial problems.  They are frequently recommended by people who make fees or commissions for selling them, but can have unintended consequences for the unwary.

Before getting involved with any investment strategy or vehicle, make sure you understand it thoroughly and know both the advantages and disadvantages.  Get unbiased advice from an advisor who doesn’t have anything to sell other than his expertise.  We’re biased in favor of fee-only RIAs.

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Korving & Company, Investment Management, Suffolk, VA

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