This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.

Tuesday, January 1, 2008

Happy New Year!

Posted By Paul

Hi Everyone,

Happy 2008! I'm back from the holidays and eager to tackle 2008.

As I mentioned in a previous article "Adviser Or Not", 2008 is going to be a year where I handle all of my financial decisions myself.

I'm excited to see how this effects my household net worth. My basic goals for the year are:

1) Don't chase returns - by this I just mean that I plan to avoid the idea of trying to move your money around a lot hoping to chase "the latest thing".

2) Save, save, save - I also hope to continue to save a lot of money. I've got this idea kicking around that maybe I need to worry less about making great returns on my investments and worry more about saving so that I have more to invest. The idea is that maybe I can save $500 and find a risky investment that might return 8%, but maybe with some work I can save $1000 and find a safer investment that will return 4%. This is something new I've been thinking about and it will probably comprise a post of its own, but I thought I'd mention it.

3) Invest smart - by this I want to really try to take the time to ask myself "What am I investing this for?". My hope is that by answering this question I'll be able to make better decisions in my investments.

Well, more posts to come, but I wanted to wish everyone a happy new year. Are there any readers out there with financial resolutions for 2008 that they would like to share?

No comments: