With the financial world lying in rubble, nest eggs cracked wide open, and easy, long-held assumptions open to new scrutiny, individual investors are left wondering which way is up. We were pleased to see the WSJ publish 10 solid ideas on what people should (and shouldn't) do now. These recommendations are clearly relevant these days, but they're also timeless, applicable to pretty much any economic or market environment.
Here are the 10 commandments:
- Reduce Your Expensive Debt
- Get On a Budget
- Guard Against Inflation
- Have a Stock-Market Strategy
- Preserve What You Have
- Don't Bury Your Money in the Backyard
- Don't Chase Returns
- Don't Abandon Diversification
- Don't Stop Saving for Retirement
- Don't Ignore Common Sense
Read the whole thing. It's good.
Dave Kansas, "What Do I Do Now?" Wall Street Journal, April 7, 2009