Investing can be incredibly rewarding. Knowing the basics of investing and having a plan will help you make the most of your money and ensure you are making smart decisions that will benefit your financial future. Here are some tips:

1. Establish a financial plan based on your goals.

  • Be realistic about your goals
  • Review your plan at least annually
  • Make changes as your life circumstances change

2. Start saving and investing today.

  • Maximize what you can afford to invest
  • The sooner you invest, the more you can reinvest for compounding profits
  • Don’t try to time the markets—it’s nearly impossible

3. Build a diversified portfolio based on your tolerance for risk.

  • Know your comfort level with temporary losses
  • Look outside the stock market to diversify
  • Understand that asset classes behave differently
  • Don’t chase past performance

4. Minimize fees and taxes

  • Markets are uncertain; fees are certain
  • Pay attention to net returns
  • Minimize taxes to maximize returns

5. Build in protection against significant losses

  • Modest temporary losses are okay, but recovery from significant losses can take years
  • Use cash investments and bonds for diversification
  • Consider alternative investments such as real estate, gold & silver, private money lending, etc.

6. Rebalance your portfolio regularly

  • Be disciplined about your tolerance for risk
  • Stay engaged with your investments
  • Understand that asset classes behave differently

7. Ignore the noise

  • Press makes noise to sell advertising
  • Markets fluctuate
  • Stay focused on your plan