Today Adam Torres, the CEO of Century City Wealth Management LLC, is here to discuss his new book, “Money Matters.” He’ll also go over a key tip for investors.
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Today I would like to introduce Adam Torres, the CEO of Century City Wealth Management LLC. He recently published an excellent book called “Money Matters,” which covers all things finance.
Adam wrote this book because he has over a decade of experience working and managing assets for clients. He has worked with more than 3,000 clients in that time. “Even today, when I meet with new clients they are missing some of the basics on how to manage their assets and assess risks,” says Adam.
One acronym everyone can use to assess whether something is a good or bad investment is RTD, which stands for risk, time, and diversification.
When it comes to risk, you need to consider how much risk you are taking on with a new investment. For example, does the investment have a possibility of losing 50%? If you’re only willing to lose 10% to 15%, then that investment might be too volatile for you.
As for time, you need to consider how long you plan on holding the investment. If you only want to invest in something for the next year, it makes more sense to invest into stock. Real estate is traditionally a long-term investment.
Do you want your entire retirement fund to depend on one investment?
Finally, don’t forget about diversification. It’s easy to fall in love with an investment stock or idea and go all in on that one thing. The problem is that even though you might invest in a great company, that company might not do well when you need it to. You have to consider diversification. Think of it this way: do you want your entire retirement riding on this one investment?
Adam has written a truly phenomenal book. If you have any further questions, pick up a copy of “Money Matters” or visit his website. As always, if you have any real estate questions, please don’t hesitate to give me a call or send me an email. We would be happy to help you!
