Read, Read, Read!

In an interview the other day on CNBC, Warren Buffet made the statement that he reads many pages every week.  Between news, financial reports, professional writings he reads several hundred pages a week.  One of his assistants, and a mentee of Mr. Buffet, stated he reads about 500 pages a week.  Wow!

Now that is not to say that if you read 500 pages a week you too will be successful in business.  But it got me to thinking...

I should read more than I do, more than the news, more than what is required for any class I am taking.  Here are a few examples of  reading material I am looking for

First Spiritual, in the form of Bible and devotional reading apart from any class I am taking. I already have a few of these books to recycle in my reading.

Second, work and church related.  Possibly a general Christian/religious news magazine and a professional journal related to Pastoral Care and Counseling.

Third, a business and financial news magazine to give me ideas, guidance in my finances.

Then fun reading, mystery and other books of interest. 

Read to expand my mind, my knowledge, my opportunities.

Perhaps you have or need a reading plan?  Consider it!

An Investment Plan

As I stated in the previous post, I want to share something about my investment plan.  Yes, its important to have a plan.  That way there is a direction to what one does.  This year, I have changed direction slightly.  I recalibrated my portfolio by selling positions (stocks held) I held in companies that have not and do not pay dividends.  I reallocated those funds and profits to strengthen positions I already have that pay dividends.  This year, I focused on stocks I want to have for a long term.  Now with the upturn in stock prices, it has been difficult for one like me to purchase the companies I want a price I can afford.  So its little by little, as funds are built up, I invest in a few shares.  Dividends can amount to enough to pay the stock fee or even a share of stock.

Now there is a cost to investing in individual stocks.  So I have a minimum number of shares I purchase.  When considering a sell the price must be enough to cover the fee plus profit. Otherwise its best to hold the stock. 

So for this new year, pending how the economy and markets fare, I am going to invest in mutual funds.  Two types of funds, an equity fund, and  bond or fixed income fund.  I do not have either in my Roth portfolio.  I have not picked the funds yet, but they will be No Load (no initiation fee) No Transaction fee funds.  Also the minimum investment has to be on the lower end to make it an affordable move.  So each pay period I plan on making deposits to my Roth account, and as the funds build make appropriate purchases. 

I also have an add on Certificate of Deposit at my Credit Union that is a long term saving, as well as a small emergency fund. 

I hope that when I get to retirement to have sources of income from Social Security, a small annuity I am vested in, then my 401K, Roth and then long term savings.

I hope these two posts have given you some food for thought about your saving plan.  You build it one deposit at a time. If its $10 or $100 a month, it adds up after a while.  I encourage you to explore your options!