Talking Money Matters with Adam Torres
We share the most excellent tips and trends in all things real estate today I wanted to introduce a colleague and close friend of mine Adam Torres who’s this PEO of Century City wealth management, Adam has recently published an excellent book and had some really great topics on all things finance that I wanted to have him share with you today so take it away but here.
First I like to say thank you for bringing me out I’ve been a longtime subscriber of the information that you’re giving and I really appreciate I think you provide a lot of value to all your clients and I want to say thank you.
Today I just want to talk about my book so it’s called Money Matters and Erik the reason I wrote this book is I do not have over a decade of experience working and managing assets for clients I’ve worked with over 3,000 clients easily and I find that even today when I meet new clients a lot of times they’re missing some of the basics to managing their investments and assessing risk.
So today I just want to share one brief on one brief excerpt from a book and it’s an acronym it’s one that’s easy to remember and one that I think everybody can use to assess whether they’re going to make a good investment or a bad investment for them the acronym is our RTD so the R stands for the risk the T stands for time and the d stands for diversification so simply put risk when you’re going into a new investment when you’re thinking about is it going to fit for you first thing you want to think about it am I taking too much risk if this investment has the possibility of losing fifty percent forty percent and you’re only willing to learn these ten or fifteen might get a little bit risky it might be too volatile of an investment for your time how long do you plan on holding this investment.
If you’re thinking you know you only have this money to invest for the next year and you’re thinking about investing it into stock or equities you know that’s traditionally a long-term investment might want to reconsider your time horizon might not be too long-lasting see the diversification I see this all the time you know somebody thinks that are they fall in love with an investment a stock or an idea and they want to just take it all in just almost like there are Vegas.
You know put it on the table this company can’t do that there’s no way it can why because it’s a great company. Well, you see the thing is it might be a great company and might do well but it may not do well when you need it to so you have to think about that diversification is your entire Madrid areas your entire retirement I’m riding on this one investment if it is then you can not be for you might not be ready for it so these are the kind of things that I do talk about in the book that and many many other things but that’s a little flavor for your viewers.
Today one of the reasons I wanted everyone to be able to connect with Adam as well as because of the concepts that he lists in his book cayenne so well when you’re looking to buy or sell a home that financial and real estate components just don’t feel really well together so Adam thanks for your time today.
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