Investing Success Tips for 2023

by Peter Rizzo

Life Settlements in a Retirement Account? Think Again.

In the last week, we have been extremely busy talking to people about wrapping up the tax year. We’ve heard some great stories of successes, and also tales of woe. We have many clients that have worked successfully with financial advisors, and also many who did well on their own. Here are some tips that we learned from the people who have had success over the last year, those who have struggled due to the changing economy and investees who neglected to live up to their obligations.


Choosing a financial advisor to manage your investments is an important decision. Here are some key factors to consider when selecting a financial advisor:

  • Credentials: Look for a financial advisor who has professional credentials, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or a similar designation. These credentials demonstrate that the advisor has met certain education, experience, and ethical requirements.
  • Experience: Consider the advisor’s experience in managing investments and working with clients who have similar financial goals and needs as yours. Ask for references and check their track record to ensure that they have a good reputation and a history of successful investing.
  • Communication skills: Choose an advisor who communicates clearly and listens carefully to your concerns and goals. They should be able to explain complex financial concepts in terms that you can understand and be responsive to your questions and concerns.
  • Investment philosophy: Find out what investment philosophy the advisor follows and whether it aligns with your own investment goals and risk tolerance. A good advisor should be able to explain their investment approach and how they make investment decisions.
  • Fees: Understand the fees and charges associated with the advisor’s services. Some advisors charge a percentage of assets under management, while others charge a flat fee or an hourly rate. Make sure you understand how fees are calculated and whether they are reasonable compared to industry standards.
  • Fiduciary duty: Look for an advisor who has a fiduciary duty to act in your best interest at all times. This means they are legally obligated to put your interests ahead of their own and disclose any conflicts of interest.
  • Technology: In today’s world, technology is an important part of managing investments. Find out what kind of technology the advisor uses to manage investments and track performance. Do they have a user-friendly client portal or mobile app that allows you to view your accounts and investment performance?

Ultimately, the most important factor is finding an advisor who you trust and feel comfortable working with. Take the time to interview several advisors and ask questions before making a decision.

Real Estate

Real estate investing comes with risks, like any other investment. However, there are several ways to mitigate those risks. Here are a few strategies:

  • Conduct thorough research: Do your due diligence and research the property and the local real estate market before investing. Look for factors like location, neighborhood, property condition, zoning laws, rental demand, and vacancy rates. This can help you make informed investment decisions and avoid properties with potential issues.
  • Diversify your portfolio: Diversification is an essential strategy to mitigate risk. By investing in different types of properties, in different locations, and with different strategies, you can reduce your exposure to any single investment.
  • Have a solid investment strategy: Develop a solid investment strategy based on your financial goals, risk tolerance, and investment horizon. This can help you stay focused and avoid making impulsive decisions based on short-term market fluctuations.
  • Partner with experienced professionals: Partnering with experienced professionals, like a reputable real estate agent, property manager, or real estate attorney, can help you navigate the complex world of real estate investing and mitigate risks.
  • Maintain adequate insurance coverage: Make sure you have adequate insurance coverage for your properties, including liability insurance, property insurance, and flood insurance, if necessary. This can protect you from unexpected losses due to accidents, natural disasters, or other unforeseen events.
  • Keep an eye on market trends: Stay up-to-date with market trends and changes in local real estate conditions. This can help you anticipate potential issues and make informed decisions about buying, selling, or holding on to properties.
  • Have a contingency plan: Develop a contingency plan in case things don’t go as planned. This could include setting aside funds for unexpected expenses, having a backup plan for tenant turnover, or being prepared to sell a property if the market changes.

By taking these steps, you can mitigate the risks of investing in real estate and increase your chances of success in the long run.

Money Lending

Lending money to others can be risky, especially when dealing with friends or family members. Here are some ways to mitigate the risks:

  • Know your borrower: Get to know the borrower and their financial situation before lending them money. Ask questions about their income, expenses, debts, and credit history. This can help you assess their ability to repay the loan and avoid lending money to someone who may default.
  • Set clear terms: Set clear terms and conditions for the loan, including the interest rate, repayment schedule, and any penalties for missed payments or default. Put everything in writing and have both parties sign a loan agreement to avoid misunderstandings or disputes later.
  • Consider collateral: Consider requiring collateral for the loan, such as a car, property, or other valuable asset. This can give you some security in case the borrower defaults on the loan.
  • Plan for the worst: Develop a plan for what you will do if the borrower defaults on the loan. This could include taking legal action, selling collateral, or writing off the loan as a loss.
  • Stay within your means: Only lend money that you can afford to lose. Don’t put your own financial security at risk by lending money you need for your own expenses or retirement savings.
  • Consider professional help: Consider using a professional service or platform that helps facilitate personal loans and provides some level of risk mitigation. For example, some online lending platforms allow you to spread your risk across multiple borrowers or provide insurance for the loan.

By taking these steps, you can mitigate the risks of personal lending and increase your chances of getting your money back in full. These are just some suggestions to help mitigate the risks of investing.

Remember – research, research, research, research, research!








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