SEEK THE ADVICE AND ANALYSIS OF INDEPENDENT THINKERS Best strategists and money managers are not afraid to take contrarian positions Sometimes really stick their necks out if research shows the market is wrong Work for firm that encourages independent thinking and expects challenges to conventional wisdom Watch the related WEALTHTRACK episode.
ACTION POINT
OWN SOME GOLD BULLION
FOLLOW THE ADVICE OF THIS WEEK’S GUESTS AND OWN SOME GOLD BULLION Gold is not an investment It is an insurance policy against disaster You can own it in various forms The actual metal in small bars or coins ETFs: least expensive and most liquid form GLD – SPDR® Gold Shares – Expense […]
CHOOSE AN INVESTMENT STRATEGY THAT MAKES SENSE FOR YOU AND ONE THAT YOU CAN ALSO STICK WITH
CHOOSE AN INVESTMENT STRATEGY THAT MAKES SENSE FOR YOU AND ONE THAT YOU CAN ALSO STICK WITH Figure out investment approach you can stick with through good markets and bad Choose managers who will stay with that approach consistently Find passive strategies that will enable you to stay invested at comfortable levels Watch […]
PUT NO MORE THAN 1 OR 2% OF YOUR PORTFOLIO IN CRYPTOCURRENCIES
PUT NO MORE THAN 1 OR 2% OF YOUR PORTFOLIO IN CRYPTOCURRENCIES Extremely speculative In its infancy Constantly evolving Not regulated Highly susceptible to booms and busts typical of every new technology Watch the related WEALTHTRACK episode.
START TO BUILD SOME MORE DEFENSIVE POSITIONS IN YOUR PORTFOLIO
START TO BUILD SOME MORE DEFENSIVE POSITIONS IN YOUR PORTFOLIO GIROUX’S DEFENSIVE ADDITIONS To equity positions: Utilities Other less economically sensitive stocks To fixed income positions: Longer term Treasury bonds Watch the related WEALTHTRACK episode.
BUILD UP YOUR SAVINGS
BUILD UP YOUR SAVINGS Americans carrying record amounts of debt The lowest savings rate in 12 years Little room for error Retirees need a cushion to see them through bear markets Withdrawing principal during market declines can seriously hurt financial security Watch the related WEALTHTRACK episode.