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Stephen Gandel on Smart Investing

Stephen Gandel on Smart Investing

Stephen Gandel is a senior writer at Money magazine, covering real estate and investing. He was the senior Wall Street reporter for Crain's New York Business. He also held positions at Individual Investor magazine, and as a business reporter at The Riverfront Times in St. Louis, MO. His work has also appeared in Fortune and on CNNMoney.com. Gandel has made numerous television appearances, including "CBS 2 News this Morning," MSNBC, "The CW-11 Morning News," New York 1 and "Good Day New York." Here, he discusses why contributing to a 401(k) is the smartest investment anyone can make.

What will it take to get people to start investing?

Sometimes people have to be tricked into investing. In 2006, we passed this law that companies can automatically be enrolled in 401(k) plans, because they do these studies that people want to be in plans but they just don’t do it. If we just put everyone in plans few people will opt out.

I feel that we need mechanisms to trick ourselves to do better behavior, not just in finances, but in life, like lists and other things—whatever we can do to force ourselves to do the things we want to do. That’s the way to it. It’s very hard organically to learn how to change.

What’s the first step to investing?

It depends where people are. The first step is to get out of debt—which includes all your high interest credit card debt and high interest student loans. Once you’re done with that, you want to start with the 401(k) plan, if you work at a place with a 401(k). Contribute as much as [your company] will match.

Also if you have the ability, max out the total contribution to the 401(k), which is $15,500 in 2008. You want to start with stocks and go with a diversified fund. When you get started, the best thing is an S&P 500 index fund. That will give you a diversified portfolio of stocks, and as you get older you can move some of that into bonds.

What if someone wants to go beyond a 401(k)?

Start investing in a brokerage account or an account that lets you buy funds directly. Index funds or ETFs are the best way to go. If you’re young, go with technology funds. Energy isn’t a bad idea. Energy prices are rising so much and that’s affecting our cost of living, so a good way to offset that is to buy some energy funds. Invest in oil companies. It’s not guaranteed, but they’ve continued to do well.

How do you know what’s right for you?

The S&P 500 is the lowest cost fund, so that’s a great way to go. If you’re a little more risk tolerant, you may want to go with technology and energy or sectors. I don’t think anyone should go for stocks unless you’re a professional money manager. It just takes too much of your time. Mutual funds are great things, where you just pay a little money for the broker’s fee because there are so many other people getting into the mutual fund.

How do you feel about investment properties like art?

If you like drinking red wine, then you should buy red wine. If you like art in your house, buy the type of art you want to hang in your house. These are not good for your portfolio.

Since stocks split, it’s difficult to see the same kind of return on the investment. People can say, “Oh, I bought this house at $50,000, and now it’s worth $800,000,” but what they don’t realize is that along the way, they put money into maintaining it. However, over time, stocks always outperform all other routes of investment.

SIGNATURE QUESTIONS

What is the belief you personally go to during times of change?

I try not to think about it too much. In times of my own change, I ask my wife what we’re doing.

The best thing about change is...

...You don’t have to do the stuff you hate.

What is the best change you have ever made?

Marrying my wife was a great change. However, I liked buying a house. For me, it’s been incredibly rewarding. You want to put more of your heart and soul into the house. You’re willing to put your weekends into making it your own place. Those aren’t necessarily economic benefits, but it’s really just a nice thing.

For more information on Stephen Gandel, visit www.timeinc.net.

Posted: 7/18/08
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Mary5432

Great Mother is Real... I am Aisha Kun and i want to testify about Great Mother how she cured me of hiv aids. I was diagnosed of this disease some time ago and i was worried. when i was searching the internet looking for a cure, i came across some testimonies of Great Mother how she has helped a lot of people and i decided to contact her on her info and explained to her. She laughed and told me that she will help me and i was surprised. She sent me the cure and it was a spiritual holy oil and water which is more than a medicine. She directed me on how to take it and i did. I took the cure for 3 weeks and i went to the doctor for check up and to my greatest surprise the disease was no longer in my system. I am so glad and i want to thank Great Mother for helping me. Contact her now on her website ourgreatmother1.com   and her email is Greatmotherofsolutiontemple1@yahoo.com  you can also reach her on her whatsapp number  +17025514367. If you have any disease, she can help you. Contact her now

Mary5432

Great Mother is Real... I am Aisha Kun and i want to testify about Great Mother how she cured me of hiv aids. I was diagnosed of this disease some time ago and i was worried. when i was searching the internet looking for a cure, i came across some testimonies of Great Mother how she has helped a lot of people and i decided to contact her on her info and explained to her. She laughed and told me that she will help me and i was surprised. She sent me the cure and it was a spiritual holy oil and water which is more than a medicine. She directed me on how to take it and i did. I took the cure for 3 weeks and i went to the doctor for check up and to my greatest surprise the disease was no longer in my system. I am so glad and i want to thank Great Mother for helping me. Contact her now on her website ourgreatmother1.com   and her email is Greatmotherofsolutiontemple1@yahoo.com  you can also reach her on her whatsapp number  +17025514367. If you have any disease, she can help you. Contact her now

Mary5432

Great Mother is Real... I am Aisha Kun and i want to testify about Great Mother how she cured me of hiv aids. I was diagnosed of this disease some time ago and i was worried. when i was searching the internet looking for a cure, i came across some testimonies of Great Mother how she has helped a lot of people and i decided to contact her on her info and explained to her. She laughed and told me that she will help me and i was surprised. She sent me the cure and it was a spiritual holy oil and water which is more than a medicine. She directed me on how to take it and i did. I took the cure for 3 weeks and i went to the doctor for check up and to my greatest surprise the disease was no longer in my system. I am so glad and i want to thank Great Mother for helping me. Contact her now on her website ourgreatmother1.com   and her email is Greatmotherofsolutiontemple1@yahoo.com  you can also reach her on her whatsapp number  +17025514367. If you have any disease, she can help you. Contact her now

Mary5432

Great Mother is Real... I am Aisha Kun and i want to testify about Great Mother how she cured me of hiv aids. I was diagnosed of this disease some time ago and i was worried. when i was searching the internet looking for a cure, i came across some testimonies of Great Mother how she has helped a lot of people and i decided to contact her on her info and explained to her. She laughed and told me that she will help me and i was surprised. She sent me the cure and it was a spiritual holy oil and water which is more than a medicine. She directed me on how to take it and i did. I took the cure for 3 weeks and i went to the doctor for check up and to my greatest surprise the disease was no longer in my system. I am so glad and i want to thank Great Mother for helping me. Contact her now on her website ourgreatmother1.com   and her email is Greatmotherofsolutiontemple1@yahoo.com  you can also reach her on her whatsapp number  +17025514367. If you have any disease, she can help you. Contact her now

Mary5432

Great Mother is Real... I am Aisha Kun and i want to testify about Great Mother how she cured me of hiv aids. I was diagnosed of this disease some time ago and i was worried. when i was searching the internet looking for a cure, i came across some testimonies of Great Mother how she has helped a lot of people and i decided to contact her on her info and explained to her. She laughed and told me that she will help me and i was surprised. She sent me the cure and it was a spiritual holy oil and water which is more than a medicine. She directed me on how to take it and i did. I took the cure for 3 weeks and i went to the doctor for check up and to my greatest surprise the disease was no longer in my system. I am so glad and i want to thank Great Mother for helping me. Contact her now on her website ourgreatmother1.com   and her email is Greatmotherofsolutiontemple1@yahoo.com  you can also reach her on her whatsapp number  +17025514367. If you have any disease, she can help you. Contact her now

KarenLola1

Great article! I hope this helps a lot of women out there.
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  • By ana654
  • on 8/7/16 10:38 AM EST
nwesigwa

Hello dear friend,
To love someone is nothing, to be loved by someone is something, to love
someone who loves you is everything. Looking here for everything of my
life, I write some words. I am single and not engaged. I am in search of
true happiness and am hoping the future brings it. I am almost too honest
for my own good - and hate game playing.
nI am trying to handle some pretty encompassing issues in my life... but am
waiting to remain open-minded where the idea of romance exists. I am
looking for Honest, caring, patient, funny and loyal person. A man that
can be himself in the beginning and remain that same person all the way
through to the end of time !
nIf you are willing to love and be loved with your whole heart & willing to
make the people in your life a "solid' part of your soul... then maybe you
and I will connect. We might just have a lot to talk about through my
private e-mailbox(maryluveu@hotmailcom)
my contact info is.
Take care,
Ms mary maryluveu[at]ho/t/m/a/i/l/com