As investing is the most effective to build wealth, you need to take advantage of this opportunity. As the new year just started, you have a great chance to review your investments and finance to make sure you are increasing your money. Here are some key advice to people who want to get better at investing.
Save at least %10 of your income to for retirement funds
If you want to maintain your lifestyle after your retirement, you have to contribute at least 10 percent of your income to your retirement funds.
Have an asset allocation plan
You need to have a diversified portfolio when it comes to your investments. You should have stocks, bonds and funds that match your risk tolerance and long term investment goals.
Learn more about investment
It is a very good idea to update your investment knowledge with a new book. Books are very important if you want to get better at investing. We all know Warren Buffet spends much of his day reading. Here are some books you can check:
- The Intelligent Investor—Benjamin Graham
- A Random Walk Down Wall Street—Burton Malkiel
- The Automatic Millionaire—David Bach
- I Will Teach You to Be Rich—Ramit Sethi
Add new investments to your portfolio
New alternate investments occur every year. As we all know, 2017 was the breakout year for cryptocurrencies. You might need to check these if you want to get involved to new investment types.