Posted By Paul
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?