This article was originally published on this site
Q: We want to start investing but do not have any experience outside our 401(k) accounts. A friend gave us a list of stocks to consider; what’s your advice. — A.D., Orlando
A: Based on the sum you are indicating and your lack of investing experience, you might be better off starting with one or two well diversified mutual funds rather than purchasing individual stocks. After you spend some time investing, you could branch out to individual stocks as your portfolio grows. — Beth Fleming Brown
Q: How can I find somebody to give me advice about tax planning? I am in my late 60’s and divorced. I recently retired and live off my security investment income. My accountant is unable to give me tax planning advice. — L.P., Orlando
A: Tax planning can be more effective when done as part of a holistic financial plan. Do some research on plannersearch.org or letsmakeaplan.org and find a financial advisor that specializes in tax planning, preferably someone who is an Enrolled Agent or CPA. — Jerry D. Mitchell II
Have a question? E-mail email@example.com. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from Financial Planning Association of Central Florida. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.