Give Us A
institutions, is stocks in global infra- who the patsy is, then you are the patsy,”
CHANCE
structure companies — the big corpora- he says.
tions that tackle national projects such
to BEAT
as power plants, road building, dams,
Other advice you can use
and mining. These companies are
“There are some common strategies
Your
benefiting from the boom in Asia
that we use with our high-net-worth
and the Middle East.
clients that can be used by all,” says
BEST
General Electric, of course, is an old
Chuck Roberson, senior wealth manager
standby, as are United Technologies and
at Greenbaum & Orecchio in Old
OFFER!
Caterpillar.
Tappan, N.J. “We typically use institu-
“Particularly when it comes to the
tional, no-load mutual funds. For the
We do all the work
environment, or the delivery of or
thousandaire, every dollar they don’t
spend in management fees is an extra
and close your
purification of water, we are interested,”
he says.
dollar in their pocket directly.”
transaction promptly.
For example, Gerasimowicz also
He further says he advises his well-
to-do clients to steer clear of picking
You’ll have a
recommends the French water distribu-
tion company Veolia Environmental for
stocks one at a time. “We don’t buy
commission check
those who are looking to be aggressive
individual securities,” he says. “We feel
the day after closing.
in an uncertain market. “We refer to it
there is too much uncompensated risk.
as a blue-gold commodity,” he says. “You
Instead we buy what we call asset classes
It’s that simple!
also have the ability to pick up foreign
or market classes. If we wanted to buy
exchange gains if we continue to have
U.S. large stocks, we would buy an
a weakening dollar.
index that represents that.”
“It doesn’t matter if you are mega-wealthy
As for taxes, says Roberson, thousan-
or part of the middle class, it takes the
daires don’t have access to the sophisti-
same effort to invest $1 or $1 million.”
cated tax shelters of the superrich,
Still, Gerasimowicz says, patience
and they too often underutilize their
may be necessary.
retirement funds. “You want to put
“At this point, when it comes to
your investments in tax-effective
the marketplace, it will require surreal
qualified accounts, tax shelters like
patience. And that’s the operative word,”
IRAs and 401Ks,” he says.
he stresses. “Patience. For some investors,
that is a difficult thing to have because
One last note of…
they are afraid of missing the market
Caution, of course, is key. Before you
rally when it comes.
invest, most advisors recommend that
you have at least six months of living SEND US YOUR
Break with convention
or business expenses saved in case of
Annuities &
Other gurus advise individual,
an unforeseen illness or job loss. And
you should always be aware of your
Structured Settlements,
unconventional thinking.
“The secret of the wealthy is to not risks, including the loss of your
Lotteries, Royalties &
follow the herd,” advises Robert Kiyosaki, entire investment. Casino Winnings, Mortgage
author of Rich Dad, Poor Dad. “We’re advising [our clients] to keep
Notes & Trust Deeds
Gold, which is averaging $890 an new cash on the sidelines at this point or
ounce, is over, he predicts. Instead in CDs, money markets, or in short-term
BE THE BEST —
look to silver, which is averaging treasuries,” says Gerasimowicz. “We
advocate waiting for some solid evidence
WORK WITH THE BEST!
$17 an ounce.
“The biggest investment of all today that we’re seeing the market bottom for
is silver. Silver is a commodity and also both the debt and equity markets.”
a precious metal, and there is less than Jason Cole, chief financial planner for R&P CAPITAL
10 years’ worth of silver in the world. Abacus Wealth in Philadelphia, is telling
Silver is used in cell phones, computers, his clients to start bargain hunting.
Resources, Inc.
and electrical lights,” says Kiyosaki. “We think in the near future there
“I’ve never seen an investment under is tremendous opportunity to buy low,
56 Lafayette Ave.
$20 that good.” especially if you see retail investors start
White Plains, NY 10603
He cautions about getting too involved to panic and sell low at already bargain
in complicated investments. prices,” he says.
Phone 800-338-5815
“If you are sitting at a poker table for Chuck Bennett can be reached at
Fax 800-258-7204
more than 20 minutes and don’t know
charles.bennett@verizon.net
Since 1989
growingwealthmag.com I Growing Wealth I July 08 I 41
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