MarketWatch's Farrell: 10 Tips for Peace of Mind in Investing

Tuesday, 19 Aug 2014 10:57 AM

By Dan Weil

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Given the elevated volatility of financial markets in recent days, you may be wondering how to gain peace of mind as an investor.

MarketWatch columnist Paul Farrell offers 10 ideas.

Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally!

1. "Start with low-cost no-load index mutual funds." That will save you money and guarantee market returns.

2. "Avoid Wall Street’s costly conflict of interest." Wall Street insiders take a lot of investors' money, Farrell says.

3. Know that financial advisers have no special skills, especially when it comes to stock-picking.

4. "Stop gambling in Wall Street’s rigged casino."

5. Realize markets are "irrational, unpredictable, dangerous.

6. "Never trade actively in the stock market. Active trading feeds anxieties and stress and kills peace of mind," Farrell writes.

7. Don't trade online. "It's too easy to lose money fast," he says.

8. "Never trade on hot tips and emotions." Investors generally buy and sell at the wrong time, according to a Morningstar study.

9. "Overconfidence may be your worst enemy.

10. Most day traders don’t make a living, eventually get out."

Meanwhile, CNBC.com cites six tips to enhance your investment portfolio.
  • "Figure out what you need." You should determine how much money you will spend in retirement and estimate much you need to save to provide that income.
  • "Save more, and extend your working life.
  • Diversify.
  • Design your asset allocation with an eye to taxes.
  • Keep a healthy portion of equities.
  • Relax and set yourself up for automatic rebalancing."
Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally!

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