Financial Success

I love to see people achieve financial success. Everyone has their own definition of what financial success is, but in most of the cases I have witnessed, success somehow involves a comfortable retirement. This goal is usually achieved gradually and rarely without planning. Most of the retirees I have worked with reached their goal using some simple rules that I will outline here today and discuss further in the coming days.

Rules to follow for a comfortable retirement:

1. Start saving young
2. Keep spending at manageable levels
3. Avoid debt
4. Diversify your investments
5. Grow your income
6. Don't invest in things you don't understand
7. Don't panic during times of market volatility and don't try to time the market
8. Rebalance periodically and reduce risk as you get closer to retirement

Each of these topics merits some attention, so I'll be digging into each in upcoming posts. In the meantime, feel free to comment if you feel that anything is missing from this list, or if there are topics or questions you'd like to see covered. You can also reach me by e-mail at contact@diymoneystuff.com