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How You Can Invest Wisely in 2013

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Inertia is the sworn enemy of the canny investor, and more than any amount of precise knowledge it is the momentum that you gather in running with the investment hare that will save you in the long term and help you really “grow” your portfolio. Here are tips that will kick start any investment initiative.

Reviewing investments carefully

Deciding how much risk you will tolerate, how you will allocate assets, decide what your goals will be, how you judge your investments, how well you strike a balance between investments, how effectively you monitor the performance of your stocks and deciding how much liquidity you really need will be the key to maintaining the health of your investment policy.

Don’t passively accept existing investment planning

If you are unsatisfied with how your employer is treating investments in a Roth IRA, 403(b) account or a 401(k) account, lobby for a change to facilitate better returns where you will also save fees and overall costs.

Adopt a tolerance level for risk that suits you and your goals

If you worry that your principal is at risk then it may be wiser to invest in CDs protected by an FDIC cover, but do remember that after taxes and inflation have taken their toll your investment would not have grown significantly in your lifetime.

Studying the cost of investing your funds

Knowing your costs is one way of deciding which investment suits your goals and fulfills your expectations for optimum yield. Comparing the costs is an effective way of convincing your employer to change investments.

Changing your asset base constantly to protect against risk

Sticking to a fixed and unchanging mix of assets is not a wise policy because it may suit you for some time before moving against you. To hedge the risk review how the stocks have moved over a quarter, a half year or annually and rebalance the ratios to lessen risk and protect your portfolio.

Going beyond US borders

If you want a share of emerging international markets beyond the US, try international mutual funds.

Resolving to save more money to fuel investments

If you realize early on that investments can power your ability to fulfill future goals do not waste any opportunity to channelize more savings into your retirement fund and independent investment choices.

Resolving to cut expenses to free up funds for investments

Resolve not to live from salary to salary, resolve to create an emergency cache, and resolve not to finance routine expenses using credit cards.

Ensuring that your retirement planning rocket is primed for the perfect lift off

Considering that employers are offering restrictive retirement choices you need to take the initiative to secure your future needs. Knowing when you will be availing the Social Security benefits, what your health care needs will be and how quickly you wish to settle your mortgage and many other debts will be crucial to the success of your retirement planning. Ask yourself if you have planned to gain the maximum from Social Security (the maximum payout for Social Security in 2103 will be a little over $30,000, annually).

Being pragmatic in fixing goals

Life can’t be focused exclusively on educating your child or settling down in a great home or being successful in your career, there will be many goals competing simultaneously for your time, attention and money, so be pragmatic and ensure that you also remain free of debt when you retire.

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