If you're reading this post, chances are high that you're capable of managing your own investments and increasing your long-term results. You may even enjoy the process. For help getting started, consider the monthly step-by-step suggestions provided below. Note: "Managing your own investments" is a loose description that will probably mean different things to different people. The suggestions listed in Months 1-8 do not involve any buying, selling or trading; they're more about understanding, learning and analyzing. Just by following those suggestions, I can almost promise that you'll make better decisions about your finances in the future, even if you stop there. 

There are multiple advantages to managing your investment portfolio yourself; one of the biggest is that you'll save the annual fees many financial advisors charge; they usually vary from 0.5-2% of your portfolio value. These fees may not sound like much, but if you run the numbers, you'll see that these seemingly "small" figures add up to a lot of money over time.

Many people believe that financial advisors who charge fees based on portfolio value enable them to "beat the market", and the fees paid to these advisors are recouped through higher returns. But studies show that beating the market is not the norm. In fact, over the last three years (as of Mar 2025), only 15% of Large-Cap* mutual funds "beat the market". So, if you're invested in a Large-Cap stock mutual fund, and it's not an S&P 500 Index Fund, there is an 85% chance that your investment underperformed the market. i.e. You paid someone to help you underperform the market in the long-term.
*Large-Cap: A large-cap stock represents a publicly traded company with a market capitalization (total value of outstanding shares) of $10B or more (often considered a stable and established investment). 

Hopefully the suggestions below will enable you to save a lot of money by taking control of your investment portfolio within a year or less.
You can:

• Work the steps faster (or slower) than the suggested monthly pacing
• Research topics that confuse you
• Ignore ideas that don't meet your needs
• Work the steps in a different order
• Pose questions and/or offer suggestions via the comments below

On a more personal note ...
​Jim's been managing our investments for about 35 years, while I managed our budget. Since retiring, I've been learning more about our investments. This post is a result of my high-level learnings and desire to share the information in easy-to-understand and actionable bites. You may be relieved to hear that Jim has reviewed (and improved) the information.

And while we don't pay a regular fee to have someone else manage our portfolio, that doesn't mean we don't seek advice regularly and/or pay for advice on occasion; we do both. Most recently, we paid to talk with Mark Zoril and we regularly talk with our Fidelity advisor (who doesn't charge a fee), as well as friends and family.

As I stated at the beginning of this post, we're not professionals and don't claim that this is the only or best way to manage investments. Instead, we offer this up as food for thought and an invitation for you to share what you know. We hope to learn from you.

-- Kathy

Q:  Why did you document this info?
A:  I've been learning more about investing, and this info reflects what I've internalized so far. If you have ideas that will help us increase our returns, I want to hear them. This is my way of testing what I think I know.

In 2019, I traveled alone from the US to Europe and loved it. The reasons are explained in a post called Expect the Unexpected, although one thing I didn't mention in that post is that my husband prefers trips where things go according to plan, while I prefer a moderate level of challenge, exploration, and surprise. Most of the time this makes us a great team, even though I usually experience travel magic when encountering the unexpected, while his contentment usually comes from avoiding the unexpected. That's why my occasional solo trips work for us, and he travels alone on occasion too.

Earlier this month I headed off to Athens, Greece. Given that I enjoy the entire travel experience, waves of euphoria can start as soon as I get dropped off at the airport. But this trip had me a little worried because I didn't really feel euphoric during my flight. (Think "full flight" and "small seat".) So you can imagine my relief when I got off the plane in Istanbul for a layover, and that euphoric feeling descended upon me. Even if I was only in the airport, Istanbul felt new and exotic.

I'd watched a few YouTube videos, so knew that the airport is huge and that the most transportation help I'd receive while getting from one gate to another would be moving walkways. Apparently you might need to walk up to a mile between gates! Thankfully, I had a two and half hour layover, so figured all would go well. I also know myself well enough to know that focusing would be my key to success because I'm easily distracted, especially when I'm having fun. 

We deplaned at Gate D9, and I breathed a sigh of relief to see that I'd be departing from Gate D10, knowing then that there was no way anything could go wrong. So I relaxed and settled in at very nice work area with plenty of electrical outlets and a view. It was just a few gates away from D10, so I could avoid the congestion of people gathering which would start happening before long. While I wasn't right at my departure gate, I was close enough to pack up and be there in a minute when it was time to board. My fun had begun, and I was already posting photos for my family in a private Facebook album and making new friends at the work area. People in airports are usually like people on chairlifts; interesting! Still, I could feel my brain fading given that I hadn't slept in over 24 hours, and even though I was having a lot of fun, the layover felt longer than expected. 

Because I was so eager get to Athens, and maybe even sleep a bit on the 90 minute flight that would get me there, I headed to the gate about ten minutes before boarding was even scheduled to start. Arriving a minute later, I was initially confused because there was nobody at the gate; literally nobody. I've traveled enough to know that gates change, and flights sometimes board early, so I was glad I'd allowed the extra time and quickly checked the Departures screen. My flight wasn't even listed. Nor was any other flight that departed at the same time (or earlier). 

You've probably figured this out by now, but I confused the time and had literally missed the flight! The good news, if there is any good news in this story, is that even though I'm a generally excitable person, when I get stressed, I usually become ultra calm and very focused. So even though I was still struggling with denial, I high-tailed it to the nearby Turkish Airlines Service Center I'd seen earlier. At the same time, I was trying to figure out how I'd made this mistake and concluded that the combo of my lack of sleep, the 24-hour time convention, the time difference between Athens and Istanbul, and my lack of sleep made for one bad mental cocktail.

Thankfully, I quickly found my way to a long desk filled with service agents ready to help, so I walked right up to a friendly-looking woman and explained that I had messed up and feared that I'd missed my flight. Honestly, I was still holding out hope that she'd tell me there had been a gate change and provide a simple solution, but that's not how things went. Instead, she indignantly asked how that could happen, and the best I could offer was to honestly report that I was having so much fun I confused the time in my head and just missed it. That made her very angry, and while I don't remember exactly what she said, I do remember being left with the feeling that I should have been paying more attention! That seemed obvious, and not really worth driving home in the moment, but I let her express herself completely before asking if she'd be willing to help me get to Athens. She pointed toward some other agents and told me to get in line. 

The good news is that the line was short. The bad news is that the people being helped by the two available agents were sitting in chairs with open laptops and/or phones in their laps. I wasn't getting the sense that these were fast-moving lines. And it was at this point that I remembered another thing I'd learned on YouTube; Turkish airlines is known for their great food and abrasive service. I had definitely experienced both.

I was feeling really stupid, but I also knew that all I could do was resolve the problem and keep trying to make forward motion. The Service Center was busy, and I'd beat a bit of a rush, so to a certain extent I was feeling lucky. And, I had to admit, this was definitely an unexpected adventure, and I already knew it was going to be a funny story that, at the very least, would help my family and friends feel savvy, or at least savvier than me.

While waiting in line, I was learning enough to help others who were arriving and feeling as confused as I had felt just a few minutes earlier. I was comforted by talking with a guy who looked very smart and capable after he admitted to having done exactly what I did; becoming distracted and just missing his flight. But I sensed he was traveling on business and didn't have the flexibility I did, so that made me feel lucky. I also spent quite a while talking with an enthusiastic young man on his way to Pakistan to get married. By the end of our conversation, he had invited me to attend his wedding! (I politely declined not feeling like this trip needed much more "adventure".)

Finally it was my turn to get some help from a service agent, so I repeated my story, and the typing began. There was no scolding from this agent, an older man, but there was also no sympathy. Many minutes later, after typing the equivalent of War and Peace into his computer, he told me that there was a flight to Athens in the morning, and he could get me on it. While I was feeling a bit desperate, I also felt the need to be smart, or at least less dumb, so asked what seemed like a logical question, "Will there be a charge?" There was a very long pause while he typed some more. During that pause I convinced myself that I shouldn't let $150 upset me, and while he kept typing I decided to increase that amount to $500 thinking that, in the scheme of things, $500 would not change the outcome of my life. So, I have to admit, I was a bit "surprised" when he said it would cost me $721. (My original round-trip flight had only cost $664!) I know from experience that you often have to push people to help you get what you want sometimes, so told him that I did not want to spend that much money. I asked for alternatives, and at the same time looked up the prices of other flights on my phone. I found a flight to Athens that left in two hours, and it only cost $150, so I asked if he could put me on that one. That's when I learned that I was required to change my existing ticket to avoid cancelling my return flights. What?! 

Given that I was standing in Istanbul, it was not my desired destination, I was not in peak mental condition, and I was struggling to understand what the agent was saying, I decided to cut my losses and just buy the darn ticket. I overheard another agent tell a customer that there are "no hotels at the airport", so, in the end, I just stayed at the airport overnight and tried to get a little sleep. 

The airport contains quite a few nap/sleep areas and quite a few lounge chairs. So after weaving the straps of my carry-on luggage through my arms, covering my face with a scarf and playing soothing music through my noise-cancelling earbuds, I relaxed and did get a bit sleep while worrying I was going to look even dumber if I slept through the next flight ... which I did not do. The next morning I was at my gate on time, flew to Athens, figured out the metro system, and made it to my Vrbo apartment by noon. By 6:00 pm I'd been out to eat, purchased groceries, and showered. I think I even fell asleep blow drying my hair right before crawling into bed.

I wish I could tell you that was the end of my travel drama, but nine days later, just before heading off to bed at 12:41 am, I received a text from Turkish Airlines letting me know that my return flight from Athens to Istanbul had been cancelled. Knowing I wouldn't sleep until that was resolved, I spent the next hour online and finally "chatting" (online) with another Turkish Airlines agent. In the end, I had to depart two days later than planned. So while I lost a vacation day when I arrived, I gained two days going home. I think that means I "won" vacationing, right? :)

In case you're wondering ...

• The new ticket to from Istanbul to Athens (classified as a "flight change") cost so much because my super cheap fare included a "flight change charge" of over $500. In fairness to Turkish Airlines, that was in the fine print, along with the notice that not showing up for any leg of the flight would void the remaining flights.
• My Visa credit card offers travel insurance, but this type of event wasn't covered; I asked. That does seem reasonable.
• A friend pointed out that the extra two nights of my Vrbo, and my food for those extra days, would likely be covered by Turkish Airlines or my Visa credit card travel insurance. But I paid my Vrbo host in cash for the extra nights so didn't get a receipt for them. He only charged me €65/night for those extra nights, and I had a lot of fun during my extra days, so I've decided it's not worth the energy to try to get any of that money refunded.
• In the end, this was a great trip, and aside from the fact that feeling stupid isn't fun, I think it's possible I'll get $721 worth of enjoyment out of sharing this story :)

​-- Kathy