The new year is under way and many people are setting resolutions in order to make 2017 the best year ever. Their resolution may be to lose weight, make more money, or stop smoking. Sam Tabar can help with one of those.
Tabar, a Columbia Law School graduate, and capital strategist has some advice for those who are looking to invest their money in the new year.
According to a study conducted by Fidelity Investments, 54% of people make financial resolutions every year. Many of them are looking for a quick score or a large payday. According to Tabar, this could be a mistake and put the investor in worse shape than when they started.
Sam Tabar suggests that those investors who want to see their money grow this year should stay away from commodities. His reasoning is that they are just too volatile for the average or novice investor.It takes a lot of research to profit in commodities and many investors cannot withstand the sharp declines in commodity prices, Tabar advises.
One area that Sam Tabar himself is investing in is social entrepreneurship. He is looking for those companies that give back to communities and work to help better the lives of citizens all around the world.
One company that he has identified is THINX, a socially conscious company that manufactures women’s undergarments. Every time THINX makes a sale they donate seven sanitary pads to AFRIpads, who then distributes them to women in need in Africa.
It is companies like this that not only turn a profit but also help make the world a better place.
No matter what path the new investor takes, Sam Tabar believes that portfolio diversification is key. You do not want to have all your eggs in one basket. The reason for this is simple. Tabar knows from experience that the hot stock or mutual fund that everyone is talking will eventually come back dow to earth.
Tabar has one more piece of advice for the investor; start today. One year from now you will look back and either be happy that you started investing or wish you had.