Hi folks!

Discussion in 'New Member Introductions' started by Lynk, Dec 14, 2015.

  1. Lynk

    Lynk Member

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    Hello all! I'm a recent widow and I am just trying to learn the best way to handle my existing investments and how to start new ones. I have a variety of small investments and some savings and I am trying to make the best with what I have got and learn to grow my income also.

    Looks like you guys have a lot of great info here so I'm looking forward to learning from you guys!

    -Lynk (aka Lynne :)
     
  2. kgord

    kgord Senior Investor

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    Hi lynk and it is nice to have you in the forum. It is an interesting place to learn about stocks and bonds, and you should find some interesting information as being part of the options. It is one of the many things that you can find when you log onto this forum! It is nice to have you here.
     
  3. baudwalk

    baudwalk Senior Investor

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    Lynk, sorry for your loss. With respect to your financial situation, the first step might be to inventory all your assets (including insurance policies), liabilities (including credit cards) and financial accounts. Include names, addresses, phone and account numbers. I would include the internet-accessible accounts with web addresses and passwords where applicable; include email accounts. I'd share/file that with your children or others you trust. Should you be injured or otherwise incapacitated, that person can help you keep your financial house in order.

    Second (and it is just a suggestion), under different circumstances, but generally the same idea, when I retired I consolidated all bank and credit union accounts -- everything that had money -- into a one-stop shop having banking and investment accounts and services. I chose a firm that is nationwide; should we move to another location/state all our financial "stuff" follows us with a phone call and maybe a required form.

    Again, this idea may not work for you, but I had all income items, e.g. SS and pension, deposited directly into the brokerage/bank account. I am comfortable with banking online, so I pay virtually all bills this way. I automate paying certain accounts -- credit cards, property taxes et al -- so nothing is left to chance.

    Your needs are different, but the overall theme is simplify. For your own piece of mind and that of family, it may help. All of this is food for thought. I hope the ideas and concepts help.
     
  4. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Welcome and sorry for your loss. Baudwalk has some very good pointers there.

    From the sounds of things, it appears that you definitely want to seek professional advice, and would want to avoid a lot of the riskier stuff such as day/forex trading, penny stocks, and all of that other high risk mumbo jumbo.
     

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