Thursday, July 9, 2009, AM | Leave Comment
Savings is good. The more you save, the better it is for you and your family. If you can’t pay for something, don’t buy it. Your ultimate goal should be a comfortable retirement for yourself and college for the kids.
Excerpts from the article on CNN
The Aquinos live by a simple rule: “If we can’t pay for something, we don’t buy it,” says Liz, 34. In the eight years she and Tony, 36, a systems engineer, have been married, the couple have socked away more than $400,000.
The Aquinos read stories about hot funds and grabbed them up. As a result, they are now sitting on a hodgepodge of more than five dozen [that’s way too many] once-popular funds, many of which own the same stocks.
Some strategies the Aquinos can follow:
- Diversify portfolio
Follow the rule of 100 when investing
- Trim portfolio
Dollar-cost averaging – a key to success when investing
Take an active role in rebuilding your portfolio
- Roll over old 401(k)s
Tax advantaged investing for a lifetime
- Investment strategies
Investment strategies for a lifetime
- Avoid investment fraud
How to avoid investment fraud
In a Nutshell
The Aquinos can sit with a financial adviser and sort things out. If you have saved close to half-a-million dollars, the best strategy is to hire a good financial adviser.
Read the full story “Plenty of savings, no investing strategy.”Facebook.com/doable.finance