Pay Yourself First - A Guide to Financial Success
Brown , Jesse B.
Sold by Your Online Bookstore, Houston, TX, U.S.A.
AbeBooks Seller since 6 July 2010
Used - Hardcover
Condition: Used - Good
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Quantity: 1 available
Add to basketSold by Your Online Bookstore, Houston, TX, U.S.A.
AbeBooks Seller since 6 July 2010
Condition: Used - Good
Quantity: 1 available
Add to basketWhile no one can foretell the future, everyone can prepare for it. Experienced investors follow common-sense guidelines that endure in up and down markets. By applying these principles to your own investment program, you can keep your plan aligned with your goals. Here are five points to think about as you discuss your financial plan with your advisor.
* Make sure your portfolio is fully diversified. Even if you hold several mutual funds, that doesn't ensure that you have a diversified portfolio. Diversification requires a variety of types funds. Diversify at home and abroad, since domestic and international markets do not necessarily move in synch. And if you are heavily invested in aggressive growth stock funds, you could consider some more conservative funds that offer both the potential for growth and downside protection. * Reacquaint yourself with risk. If you have invested a good portion of your assets in the last five years and have seen consistent gains, it may feel as though risk has gone out of the market. In fact, the risk in your portfolio may have increased as the prices of the stocks in your portfolio have risen to new heights. Make sure you're not taking more risk than you want. * Rebalance your portfolio. If you started out with an asset allocation plan that called for an equal mix of stocks and bonds, for example, the balance would have been lost if bonds remained relatively flat and stocks rose significantly. Revisit your desired balance and let your advisor help you make the appropriate adjustments. * Keep your eye on the ball. Don't allow daily headlines to sway you from your long-term investment programs. As long as your investments remain aligned with your long-term financial goals, you do not need to be unduly concerned with the market's day-to-day fluctuations. * It's time , not timing. Invest regularly, no matter what. Systematic investing is a strategy that has proved itself time and again for those who have the means to make a regular commitment to their program over the long term. Of course, this strategy may not work during an extended market decline or for those who are unable to stick wit it over an extended period.
During these extraordinary times in the market, you have the perfect opportunity, working with your advisor, to give your portfolio a financial checkup. In addition to investment advice your advisor can provide you with a prospectus for any fund you wish. A well - positioned portfolio could make a powerful difference over the long term.
This book is a powerful example of just how to do just that. Pay Yourself First is our best example of how to build wealth for the future.
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