Personal Finance – The Big Picture

As we go into the new year, it’s a good time to sit back and remember the huge picture. A lot more typically than not, we as humans get too tangled up on the little things in life, when in reality, it is the “big picture” that matters. I’m talking about your financial objectives. 2010 was a roller coaster year for investors and millions of American made poor choices. The biggest was selling their investments when the market was poor. You’re most likely one of these Americans. It is OK! We all make mistakes, that’s why I’ve developed this financial blog to assist you to along the way.

The “big picture” is fairly easy. Follow these three pearls of investment wisdom and you’ll stay away from future investment mistakes.

1- Save a minimum of 15% of your income. There is a whole lot of debate on this topic. At the ed of the day, you really needs to be investing upwards of 25% of your income in case you take our nations deficit and future inflation into consideration. Max out your 401k and Roth-IRA and you’ll be guaranteed to be a multi-millionaire by the time you retire. Yes, you read that correctly. I said “MULTI-MILLIONAIRE.”

2- Keep away from costs by investing in index funds and ETFs. The key here is low price investing. Your priority needs to be to invest in these types of funds very first, THEN, should you have additional play cash, you’ll be able to purchase individual stocks. But even then, I advise against individual stocks. Just keep buying diversified, low price funds. Vanguard is your very best bet for this. You can go as easy as a Target Retirement fund or go as complex as a ten-fund portfolio approach. Either way, stick to the basics and watch your costs! Oh, and never obtain mutual funds. Index funds beat mutual funds 80% of the time. If an investor is suspicious, you can always do a search by social security number and find who he is.

3- And lastly, locate a balance. Investing ought to not take a toll on your personal top quality of life. I’m a huge believer in investing, but also in spending cash on issues you take pleasure in or get satisfaction from. For me, those issues would be church and bodybuilding.

Should you follow these 3 fundamental practices, you’ll be well on your way to financial freedom in 2011. The key here is that you’re investing. Get back to basics, invest your cash, and see your challenging earned money grow.

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