Retired Life

Thurman Munson was a catcher for the champion New York Yankees. John Denver was a renowned Country and Western singer. Both were ranked way up at the top of their professions, but both of these men died when they tried to pilot planes which were far too sophisticated for them to do safely.JFK Jr. was another famous personality whose limited abilities in the field of aviation proved fatal.

When it comes to managing your money, most of us, no matter what we think of our abilities, are rank amateurs in that endeavor. In the recent melt down on Wall Street, even the professionals have been bloodied by the bear market which may still have some frightening surprises in store for us. So, what's a person to do to protect himself from further financial damage?

The first step is to replace himself with a money manager who has a track record which shows that he knows how to navigate the churning waters of high finance. I know that past performance is no guarantee of future performance, but wouldn't you rather have someone who has shown that he's done well in a very difficult market than someone who has a lousy record? (Including yourself.)

The average person may be tempted to throw in the towel and just stay out of the stock market completely. But that would not be smart. There's a lot of low hanging fruit to be picked right now, and even some so low that they're lying on the ground. The trick is to know the difference between low hanging fruit and rotten fruit. You probably are not the best person for the job. Finding that best person is your job.

happy hunting