Toucan Talk
Building a Strong Financial Foundation
Provided by mjoM@tiecahmaoealnOa.aconma

Michael Oana is the Chief Investment Officer with Team Oana Investment Advisors. Team Oana is a locally owned boutique investment firm specializing in helping conservative investors. Mr. Oana's Toucan Talk column appears bi- weekly in TheColumbiaStar.

Investors are like fingerprints: each one is different. But if there's something every investor wants, it's a solid financial foundation. When your finances are in order, so many other things seem to fall into place.

How can you create a strong financial foundation?

• Create a plan of attack. Every plan begins with specific investment goals. Know what you want your money to do for you. Decide whether you need current income today or long-term growth for the future. Once you know where you're going, you can start putting the building blocks in place.

• Establish the right mindset. Determine the amount you can afford to invest comfortably on a regular basis.

How do you decide the amount to set aside?

• Take inventory of your personal finances. Ask yourself, "How much do I feel comfortable putting away regularly -- in good times and bad?" When you determine that amount, plan on sticking with it over time.

• Identify your risk tolerance. Every investment moves up and down in price. Generally, those with above-average profit potential go up and down in price more than those with less profit potential.

There's no such thing as avoiding risk - your only choice is which risks to take. If you choose an investment that seems to offer little risk, you can lose purchasing power because your returns may fail to keep pace with inflation, eroding your standard of living.

Knowing your tolerance for risk also helps to narrow down the many investment opportunities available to you. And there are many from which to choose, ranging from savings vehicles and fixed income investments to stocks and mutual funds.

Determine your time horizon. Figure out how much time you have between now and when you need to reach your financial goals. Some investments that may appear attractive may be inappropriate because of your time horizon. If you're investing for a long-term goal, you'll want investments designed to produce attractive gains over the long haul. If you require regular monthly income, you'll need investments that can generate a steady flow of income today.

Make your investments. You can select from numerous investments to meet your financial needs. Which combination of investments is right for you? That depends on your specific needs. What may be right for a friend or neighbor may not be right for you.

Rely on a professional financial advisor to help you choose the best investments for your financial needs. He or she should also be willing to educate you about the many investment alternatives available to you.

Our firm does not render legal, accounting, or tax advice. Please consultyour CPA or attorneys on such matters.

The accuracy and completeness of this article are not guaranteed. The opinions expressed are those of the author(s) and are not necessarily those of our firm or its affiliates. The material is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

Team OanaInvestment Advisors,

Inc.,is an independent

company with securities

offeredthrough Summit Brokerage

Services,Inc.Member

FINRA & SIPC.

Please listen in on the "U Need 2 Know" radio show on WOIC 1230 AM. Mr. Oana will be a guest every third Wednesday of each month at 3:05 to 3:25 pm.