New Year's is a good time to take stock of your portfolio. If you can do 2 or 3 of things in the new year, than you'll be a much better investor than you were last year.
1. Don't buy a stock just because it's suggested in a magazine or on a blog.
2. Practice asset allocation; rebalance your poftfolio every quarter.
3. Turn off CNBC.
4. Pay attention to spreads, commissions, and account fees.
5. Meet with a financial planner.
6. Examine every holding in your portfolio and make sure that it meets with your larger investment goals.
7. Examine the performance of your mutual funds; consider switching to low-cost index-funds and/or ETFs.
8. File your brokerage statements from past years.
9. Learn a new stock valuation metric.
10. Stick to your investment plan.
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