Good Ideas – DECADES to Wealth

Good Idea #11: Diversification

Diversification is critical for a higher probability of achieving your long-term goals of financial freedom and a prosperous retirement.

Good Idea #10: Alternative Investments

Crypto, crowdfunding, collectibles, wine futures and fine wine, etc. are all alternative investments that are out there, some for decades, that you may not consider as real investments at first thought. However, many of the highest quality of all of these can generate real investment returns.

Good Idea #9: Writing Covered Calls

Consider writing, or selling, covered calls to enhance portfolio income.

Good Idea #8: Build Your Own Portfolio

“A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.” Burton Malkiel, “A Random Walk Down Wall Street” Many “experts” want to sell you a system, even if you don’t consider them to be a system. Mutual funds, ETFs,Continue reading “Good Idea #8: Build Your Own Portfolio”

Good Idea #7: Multiplied by Time

One of the key parts of your long-term, retirement-focused part of your portfolio is how they perform over the long-term. Of course, we want every investment to be a home run, but the season is 162 games, and not just one at-bat. To succeed over the long haul, you need investments that will grow andContinue reading “Good Idea #7: Multiplied by Time”

Good Idea #6: ETFs, with a Twist

While you’re probably reading this because you have a good handle on your investments, it may surprise you that I like Exchange Traded Funds (ETFs), or a group of securities that trades and acts like a stock – you buy shares, hold them just like you would hold shares of company stock, and can sellContinue reading “Good Idea #6: ETFs, with a Twist”

Good Idea #5: Don’t Let a Winner Turn into a Loser

How do you prevent a winner in your portfolio from becoming a loser? By using trailing stop-loss orders.

Good Idea #4: TMI! Avoid “Paralysis by Analysis”

Information is everything. However, often too much information can be more harmful than helpful. Avoid “TMI” and paralysis by analysis.

Good Idea #3: “What if I did the Opposite?”

Some of my best investment trades or ideas have come from a simple exercise I do before every major investment and personal finance decision I make. I ask myself, “What if I did the opposite?” Instead of buying a stock, what if I bought this other stock? Instead of selling, what if I were toContinue reading “Good Idea #3: “What if I did the Opposite?””

Good Idea #2: Test Trading and Watch Lists Rarely Work

Many people suggest “test trading” to either try out a new system, or to make sure you’re comfortable investing in the stock market in general. It all seems sound, but it doesn’t work. Think about it – in sports, players can practice all the time, but practice never simulates “game time” or “game speed”. AContinue reading “Good Idea #2: Test Trading and Watch Lists Rarely Work”