As we are about to turn the page into 2012, it is worthwhile establishing or reexamining our investment goals. We want to be able to keep these resolutions and many on the list are not new to readers of ITA Wealth Management. So let's begin.
1. Lay out an investment plan if you have not already done so. Most readers of ITA already have a plan in place. Now stick to it.
2. Pay off credit card debt. This seems to be the current trend. Keep at it. This one likely should be number on on the list.
3. Establish a savings plan. Follow the Golden Rule of Investing.
4. Make the decision whether you want to manage your own money or pay a fee based advisor. The cost of an ITA Platinum membership is far less than the cost of a professional advisor.
5. Seriously consider whether you are better off using index vehicles or picking individual stocks. Do some serious research on this topic. Read Richard Ferri's book, "The Power of Passive Investing" if you have the slightest question.
6. Read several of our Top Ten Investment books before launching your investment plan. Begin your investment education.
7. Turn off CNBC and other financial advertising services. They do not have your best investing interests in their thinking.
8. Think through your asset allocation plan. Keep it simple as you learn. You might even begin with the four asset class portfolio. The ETFs are: VTI, VEU, VWO, and TIP.
9. Learn how to monitor your portfolio. We recommend taking the time to learn how to use the TLH spreadsheet. There is a lot to learn.
10. Be patient. Invest for the long run.