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If you’ve ever opened a statement and wondered, “Am I taking the right amount of risk? Are my returns on track? Should I own funds or individual stocks? Would two advisers protect me more?”—this one’s for you. Glen and Robert unpack the four questions they’re asked most often and share practical frameworks you can consider and discuss with an adviser. The goal isn’t a one size fits all portfolio; it’s to show you how to connect what you want with what you own, and how to keep taxes and timing from creating unintended challenges.
Most investing mistakes aren’t dramatic, they’re subtle. A little too much risk in the money you’ll need soon. Expectations based on unusually strong years instead of the next ten. A fund that quietly distributes taxes after a down market. Or two advisers inadvertently creating a wash sale that disallows your tax loss. Small frictions compound. A clear plan, and a few practical steps, can help keep your plan aligned with your goals.
1) “How much risk should I take?”
Start with purpose and timing, not a personality label. For dollars you’ll spend soon (taxes next spring, tuition, a home project), prioritize stability. For goals a few years out, blend growth and stability with a path back to cash. For long-horizon money, let compounding work, but only at a risk level you can remain comfortable with during downturns.
2) “What return is reasonable?”
Returns can come from what you own and how you behave when markets are unstable. Stocks have historically offered higher long-run averages, though with significant volatility. Bonds and cash-likes are steadier but aim lower. Think in ranges over multi-year periods, not a single number for next year, and be honest about whether you’ll stay the course when it’s uncomfortable. A good portfolio is one you can stick with.
3) “Mutual funds, ETFs, or individual stocks?”
All three can make sense, just know their trade-offs.
4) “Does having multiple advisers make me more diversified?”
Usually not, and it can quietly cost you. If Adviser A sells at a loss to harvest taxes and Adviser B buys a substantially identical position within 30 days in another account, your loss gets disallowed (that’s the wash-sale rule). Separate teams can also run conflicting playbooks (long bonds vs. short, growth vs. value tilts), leaving you to quarterback. Diversification is about what you own, not how many business cards you collect. Many investors find it helpful to have one adviser with a coordinated process.
It’s not an exotic investment, it’s an outdated plan. Don’t ask, “Do I have a plan?” Ask, “When did I last update it?” Twice-yearly reviews keep assumptions (spending, inflation, taxes, and portfolio mix) honest and support gradual adjustments instead of more disruptive changes later.
This content is for informational and educational purposes only. They are not individualized investment, legal, or tax advice, and do not represent an offer to buy or sell any security. All investing involves risk, including possible loss of principal, and past performance is not a guarantee of future results. The views expressed are those of the hosts and may change without notice. Glen Smith and Robert Casey are investment adviser representatives of GDS Wealth Management, LLC, a registered investment adviser. Registration does not imply any specific level of skill or training. Visit https://www.gdswealth.com for information on our services, fees, and disclosures. References to mutual funds, ETFs, stocks, or other securities are for illustration only and should not be considered recommendations. ETF and mutual fund structures vary and may distribute capital gains; investors may still owe taxes. Tax-loss harvesting and wash-sale rules are complex—consult a qualified tax professional for guidance on your situation. Any case studies or client scenarios are hypothetical or for illustration only and do not guarantee future results; individual circumstances vary. Mentions of third-party speakers, companies, or products are not endorsements, and no compensation is received/paid unless expressly stated. Portfolio allocations or models discussed are examples only and may not be appropriate for all investors. References to asset class “historical performance” may reflect broad indexes, which are unmanaged and not directly investable. Discussion of multiple advisers highlights coordination and tax considerations; it is not a recommendation to hire or dismiss any adviser. This content may include references or links to third-party resources, and GDS Wealth Management is not responsible for the accuracy or completeness of third-party information.