Once you start saving, make sure you have the proper asset allocation. This starts with selecting the right amount of stocks and bonds that fit you and your goals. It’s more than just a risk tolerance questionnaire. It’s knowing how fast you want to get to your goals and what risks are acceptable to you along the way. Everything is a trade-off but asset allocation – the balance between riskier assets (stocks) and less risky assets (bonds or cash equivalents) is what matters most in determining the risk and return for your portfolio.
There are no shortcuts to building wealth. You never know what market segment will outperform or underperform from year to year, so don’t try to guess by timing the market. You are better served by setting up your balance to “fit” you and your goals and then rebalance regularly. Don’t fall in love with your company stock. Remember, in a well-diversified portfolio, there should always be something down or underperforming your other investments each year.
Episode 22 - 10 Steps to a Better Investment Experience - Step 10 – Focus on What You Can Control
Episode 21 - Step 9 – Ignore the Financial Media
Episode 20 - Step 8 – Manage Your Emotions
Episode 19 - Step 7 – Avoid Market Timing
Episode 18 - Step 6 - Practice Smart Diversification
Episode 17 - Step 5 - Taking the Right Risks
Episode 16 - Step 4 - Let the Markets Work for You
Episode 15 - Step 3 – Don’t Chase Past Performance
Episode 14 - Step 2 - Don’t Try to Outguess the Market
Episode 13 - Step 1 - Understanding Market Pricing
Episode 12 - Can I Retire?
Episode 11 - Use A Coach Or A Teacher
Episode 10 - Create A Map - An Investment Policy Statement
Episode 9 - Manage Your Emotions and Stay the Course.
Episode 8 - Know How Much Your Investments Cost You.
Episode 7 - A 10% discount is a good deal; A 20% discount is a better deal.
Episode 6 - Tilt Your Allocation
Episode 4 - Start Saving Towards Your Goal(s)
Episode 3 - Identify Your Goal(s) and Write Them Down
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