Poignant and Pertinent: Money Advice from a Dying Banker

4:03 pm Uncategorized

A New York Times article last week profiled Gordon Murray, a California investment banker dying of a brain tumor who has self-published a small book of investment advice that he says contradicts most of the advice he gave during his 25 years of selling bonds to beat-the-market pension and mutual fund managers.

The book is The Investment Answer and is written in layman’s language.  Co-authored by financial adviser Dan Goldie, the book tells investors to make just five decisions:

1.     Decide whether you will go it alone or hire an adviser.  The book suggests hiring advisers who earn money only from you.

2.     Strive for less volatility in our portfolio.  Divide your investments among stocks and bonds, value and growth, big and small.

3.     Subdivide your portfolio between foreign and domestic investments.

4.     Decide between active or passively managed mutual funds.  The authors suggest the latter.

5.     Rebalance by selling winners and buying more of the losers.

Mr. Murray has ceased medical treatment for his brain tumor, and says he does not expect to see his 61st birthday next March.  However, he has written this book so what he didn’t learn from 25 years on Wall Street can help the average investor make good decisions about their money.

If you need help making wise decisions about saving for retirement or passing along your assets to heirs, contact our California estate planning law firm.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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