KOTA Territory NewsFinancial Fire Drill: Tips for successful investing

Financial Fire Drill: Tips for successful investing

The Stock Market crash of 2008 - 2009 sent people who'd invested into crisis mode.

When it comes to investing, the key is to not have all your eggs in one basket.

Financial Advisor Rick Kahler says it may seem like a simple concept, but creating a diversified portfolio insures that all your investments won't implode at the same time.

To create that diversified portfolio, Kahler recommends investing in five or more asset classes.

Different asset classes include stocks, real estate investment trusts, commodities, and bonds. He also recommends international stocks, U.S. stocks, as well as international and U.S. bonds.

Kahler says no matter how small or big of an investment you can make, every little bit counts.

"Mutual funds you can usually get just as good diversification for two thousand dollars as you can with two million dollars. That's the beauty of a mutual fund," says Kahler.

Kahler recommends start investing when you're young, you'll be surprised at what a little adds up to years down the road.