Can You Trust Your Broker or Financial Planner?

In fact, Daria is living proof. If the thought of poring over a company's balance sheet fills you with terror, listen to her for a moment.

Daria Says: "I Did It. So Can You!"

I never took a finance course. I never took an economics course. I was a theater arts major at Webster University. But then came the day when Ken made the decision to go into radio and take a huge pay cut.

When I announced to Ken that I was going to take his place as the stockbroker in the family, he discouraged me by saying, "Don't do it! It's a rotten business."

I took his words as a challenge. Without any background in anything financial, I discovered that even a theater arts major can learn to make investment decisions. And so can you. But you need to learn the underside, because that's what's killing your portfolio.

The first place you start is by informing yourself. Then you have to do your own research. Once you understand just a little bit about how each of the investments work, you will find it less necessary to use financial pros and do it yourself.

Remember that anytime you can cut the expenses out of acquiring and making investments—the commissions and fees you've been paying the broker or mutual fund manager—your investments will be working harder.

And why should you pay someone to lose money for you, anyway?

Again, no one cares about your financial well-being the way you do. And Ken and I are here to help you along the way. Check out the various articles on investing here at Dolans.com. Even if you don't go on to become a stockbroker like I did, you'll feel a lot more comfortable making investment decisions—or at the very least taking control of your finances and having your broker work for you instead of the other way around.