Many people want to be richer, have more money and more prosperity. But they don’t know how to go about it or what actions to take.
Here are the next 20 tips…
Beware affinity fraud; find God, not hot investments, at your church, synagogue or mosque.
Sir John Templeton: “The four most dangerous words in investing are: ‘this time it’s different.’”
Don’t put more than you can afford to lose into a crowdfunded deal; startups are always risky, and the new JOBS Act reduces both paperwork and investor protection.
Don’t underrate the importance of liquidity.
Use Quicken or a Web service to track all your finances and see your big picture.
Use different passwords for each of your online financial accounts; add optional security questions whose answers can’t be found in your Facebook or LinkedIn profiles.
Write down your passwords and hide them; tell one person where they are.
Don’t fight demographics—allocate a portion of your portfolio to health care and biotech stocks.
Diversify globally to boost your portfolio’s risk-adjusted performance.
Benjamin Graham: “Speculation is neither illegal, immoral nor (for most people) fattening to
Cash in on companies with stealth dividends—meaning stock buybacks.
Set investing rules for yourself that block impulsive decisions.
Look beneath a fund’s name, with Morningstar’s Style Box and X-ray.
Use software to track your asset allocation.
Ask for a “brokerage window” in your 401(k)—an opening that allows you to invest in any mutual fund and even individual stocks.
Bond laddering is good, but diversifying your income investments is important, too.
Treasury Inflation-Protected Securities (TIPS) offer protection from inflation—not from rising interest rates.
John Bogle: “Time is your friend. Impulse is your enemy.”
Use salary increases to boost contributions to your 401(k).
Read the rest of the tips on Forbes.