IRC WealthCast 044: Investing Made Simple with David Ragland

At IRC Wealth, we talk frequently about Wealth Made Simple (yes, really), the strategic foundation for how we help clients grow their wealth and work toward financial freedom. But what about investing made simple? Is there such a thing?

Well, to start, we can break this aspect of building wealth into three simple concepts:

  • You can have cash.
  • You can be a lender.
  • You can be an owner.

In this podcast with IRC Wealth CEO and Founder David Ragland, you will hear a candid discussion about investing including:

  1. There can be problems with cash. Beware of being on the sidelines and making this your primary way to build wealth.
  2. Cash has a place in your financial plan but not necessarily in your investing plan.
  3. What is your tolerance for risk in investing? This critically important part of who you are will help you and your financial planning professional choose the appropriate mix of investments to set you up for success.

However, before you determine your risk level, you need to have a financial plan. Only after a plan has been thought out and created with intention, will you be ready to apply the investment management tactics that are right for you.

Operating without having a plan first doesn’t mean success is impossible, but it can be very improbable if you don’t know what you want and where you want to go as your wealth grows. Once you know your financial goals, you can then determine your risk level by stepping back and looking at yourself objectively to understand how well you can handle the volatility of investing.

Achieving financial freedom requires getting involved, getting educated and then getting even more educated. The more you know, the better you will be in assisting a certified financial planner (CFP) or other investment professional to help you reach your destination. And the more you know about your money, the better decisions you will make.

The more you know about your money, the better decisions you will make.” @davidmragland (Click to Tweet)

Now take a moment and join us to learn more on this IRC WealthCast.

This article originally appeared in the IRC Wealth blog