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    The Process of Investing: Applied Financial Planning and Portfolio Management
    The Process of Investing: Applied Financial Planning and Portfolio Management
    The Process of Investing: Applied Financial Planning and Portfolio Management
    Ebook116 pages1 hour

    The Process of Investing: Applied Financial Planning and Portfolio Management

    By Joseph P. Curran

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    About this ebook

    The purpose of this book is to share my formula for building financial plans and managing investments. I draw from personal as well as academic and professional experiences to form a comprehensive approach. Whether reading this to understand how an advisor can help or you want to use my recipe to manage your own wealth, this book will provide insight into making the most of your financial well being. My step-by-step approach serves as a guide that will close many common gaps that investors encounter. The objective is to make the process timeless. We will first begin by understanding where I came from and how my thoughts were formed over the years. This will lead into the practical applications for managing wealth, from getting started with investment selection, to ongoing monitoring. I believe strongly in education, process, and ethics; this book serves as my platform to document and share my method.
    LanguageEnglish
    PublisherBookBaby
    Release dateApr 19, 2019
    ISBN9781543968224
    The Process of Investing: Applied Financial Planning and Portfolio Management

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      Book preview

      The Process of Investing - Joseph P. Curran

      Investing

      PREFACE

      The purpose of this book is to share my formula for building financial plans and managing investments. I draw from personal as well as academic and professional experiences to form a comprehensive approach. Whether reading this to understand how an advisor can help or you want to use my recipe to manage your own wealth, this book will provide insight into making the most of your financial well being. My step-by-step approach serves as a guide that will close many common gaps that investors encounter. The objective is to make the process timeless. We will first begin by understanding where I came from and how my thoughts were formed over the years. This will lead into the practical applications for managing wealth, from getting started with investment selection, to ongoing monitoring. I believe strongly in education, process, and ethics; this book serves as my platform to document and share my method.

      Chapter One

      THE WONDER YEARS

      My story begins in a New England neighborhood as a 6-year-old with a $2 weekly allowance. Neighborhood kids would jump on bikes and ride into the center of town to buy candy at the local drugstore. I gained an early appreciation for budgeting by maximizing my allowance: the typical pack of candy cost 32 cents. However, if I’d saved enough over the course of the month, I’d allow myself to splurge on the 2-for-$1 gummy bears. While young, these candy excursions motivated me and served as my first exposure to the purpose and value of money.

      Jumping ahead to the ripe old age of 7-years-old, my parents sat me down with my older brother and gave us each an envelope. They said they wanted us to start saving money so we could buy things when we went to Disney World. To any child, there is no greater motivation than Disney – I was even more determined to save than I had been by gummy bears. Soon, between saving allowances, Christmas, and birthday money, I was able to build up what I considered to be a good amount of money. I would take out the envelope and sit on my bed, counting the money. I was on my way.

      A few years down the line, my father brought me down to the local bank in town to open my first bank account. I vividly recall sitting at the banker’s desk as we counted out every bill and coin: $212.19! I received a little book with the account value printed on it, tangible proof of my savings. Periodically, my father would update the bank book to show me the current value of my account. It almost seemed magical. The money grew for seemingly no reason. He explained the concept of interest and I was fascinated by how the balance would increase. Keep in mind that this was the mid-1980s, when interest rates were sizable and fees were virtually nonexistent.

      I was excited by any chance to earn and make money – chores around the house, yard work, even a paper route. Back then, 15 was the earliest age you could get a part-time job in Connecticut, so I started working at the local grocery store. I earned $4.26 per hour before taxes, working three hours after school with a 15-minute break a few days a week. As a teenager, I had trouble with trying to look busy or going above and beyond without any extra incentive. It quickly became apparent that I could mow a lawn in a half an hour and make $20. It would take many more hours to clear that bagging groceries, mopping floors, and fetching carts. So I plastered the neighborhood with flyers and landed enough clients to start my own landscaping business. Word of mouth at my grandmother’s bridge club also helped, and I was well on my way.

      My entrepreneurial spirit was born. Between lawns, hedge trimming, and winter snow removal, I had plenty of work to stay busy while earning money. The reward wasn’t all financial, though. I learned a number of other lessons through this process as well: work ethic, client communication skills, practical landscaping skills, and what I believe to be most important – reliability. I continued the landscaping business through high school and college, illustrating that if you did a high quality job and were considerate, then the client would be happy.

      One Christmas while in high school, my grandmother bought me a rather unique holiday gift – my first share of stock. It was Ford Motor Company, with the ticker symbol F. Ford performed very well during the early 1990s, making my grandmother’s gift a great first lesson and exposure to the equity market. I would periodically check the price in the newspaper and looked forward to receiving my statements. Dividend reinvestment and spinoffs sweetened the pot and I was fascinated once again with how the investment magically grew.

      Although I loved my candy, and still do to this day, I hesitate and think things through before making any purchase. That’s not to say it’s all about earning money, saving, and watching it grow. Money is a means to an end. There are many other components to finance, including spending wisely to maximize happiness. For the 16-year-old version of me, this meant having my own car and all of the related responsibilities and expenses. Buying guitars, drums, and musical gear was also an important way for me to spend my funds. It was – and remains – important for me to be able to afford to do and buy things that I deemed worthwhile. Looking back, there was little in the way of hobbies and activities that I missed

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