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By Dan Greenshields, ShareBuilder President
Believe it or not, when it comes to long-term financial goals, the stock market is still the best place to put your money.
And believe this: now is a great time to invest. But do so slowly, steadily – deliberately. Have a plan. Determine your long-term goals. And build a diverse, low-cost portfolio that will help you reach your long-term goals.
No matter what the time or climate, investing will always be somewhat risky business. Still, there are some simple strides you can take to minimize your risk – and maximize your gain. Read on for 6 steps to help get your portfolio moving forward. You may not sprint ahead right out of the gate, but slow and steady always wins the race.
Remain Calm. Stock purchasing should be seen as a marathon, not a sprint. A knee-jerk reaction to a market downturn is never the answer. Resist the urge to pull your money out of the stock market and put it all in low-risk – and, thus, low-yield – investments. You can hedge against massive losses by keeping a balanced portfolio. Let your money work for you to make up ground you lost last year. It can’t do that sitting in a cookie jar.
Earn Rewards, Avoid Instant Gratification. Whether you’re saving for a long-term goal such as retirement, or a mid-term goal like a child’s education, you should set target milestones and reward yourself for reaching them. For instance, don’t buy a new television until you’ve made regular contributions to your 401(k) for a set number of months. You’ll feel better about your purchase knowing that you truly earned it.
Set Up Automatic Savings Plans. Make long-term savings like a bill, just like cable television or your cell phone. Pay $50, $100, $200 into your savings and investment account – whatever you can stomach – each and every month. Most employers allow you to automatically deposit a set amount right from your paycheck to your savings account, or to a retirement vehicle like a 401(k). You’ll hardly even notice the difference in your paycheck – but you’ll be awfully glad you did it later.
Do Your Research, Then Diversify. You have to do your research. Just like you’re not going to get a flat stomach without working for it, you aren’t going to achieve investment success without working for it. There are plenty of newspapers and newsletters you can subscribe to. The Internet is also an excellent tool to do stock research. While just about every investor lost money this past year, the people with well-diversified portfolios weren’t hit as hard. Just like a healthy diet consists of foods from many different food groups, a healthy portfolio consists of many different kinds of investments, including stocks, bonds, and money market accounts.
Exploit Retirement Vehicles. Many employers will match money you contribute to your 401(k) retirement account. If you don’t already contribute to your 401(k), start now. And whatever you need to do to take advantage of employer matching funds, make sure you do it. It’s free money for your retirement. Take it. Additionally, there are tax incentives for opening and maintaining Individual Retirement Accounts (IRAs). With the Roth IRA, for example, you contribute after-tax money – but your retirement withdrawals are tax free, earnings and all. Just be sure to talk to your tax adviser.
Make Investing a Way of Life. Investing should be a way of life for the entire family. Set a good example for your children by planning for your future and theirs. Get them excited about saving and investing. You’ll all be richer for it – literally and figuratively. The recent market turmoil has been quite nerve-wracking. But historically, it’s downturns like these that have been the best times to invest. And hard economic times show how important it is to save for a rainy day. So start investing. The sooner you start and the longer you save, the better off you’ll be.
Tags: Dan Greenshields, Goals, Invest, Long-Term
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Great post, Dan! Just a few months ago, circa Dow Jones 6,500, it was easy to find numerous experts claiming the death of time-tested strategies like dollar cost averaging and asset allocation. While the pain we all felt in 2008 was real, it didn’t change the importance and accuracy of the basic principles you describe above.
Isn’t it funny, how we don’t hear as much negativity about “remaining calm” now that the market has streaked upwards these past few months?
http://www.totalcandor.com/blog
All indications of an upward trend in the markets must be measured through the sharp eyes of Education and Experience.
Certainly, even more caution is required these days as well as a disciplined approach in any re-entry schemes. Investors who might have been burned by the shake ups and failings in the past, must guard against the natural urge to try and recover all that was lost….
http://www.apsense.com/?ref=peaceful
Mr. Greenshields did not mention, what I think is the most important step for investing in the stock market: set sell stops. His suggestions of remaining calm and diversification only work in bullish markets. While we are in a bullish market, right now, and the technical indicators seem to be saying that we will continue in a bullish market, at least for the short term, bearish markets come faster and harder than bullish markets. In other words, history shows us that you lose your investment, in the stock market, when it goes down, a lot faster than you increased your investment, when the market was going up. Also, he said to diversify; diversification only works in bullish markets.
Also, I don’t know of any mutual fund that has sell stops. I suggest an investor use a certified financial planner, instead.of using mutual funds, yourself, or using stock brokers. If you look at how mutual funds did during the downturn, even the ones that purport to having done well, they only did slightly better than the S&P 500 — and that’s usually the case in bullish markets, too. While brokers live off of trades, certified planners live off of how much is in your portfolio. I am not a certified financial planner, so I am not writing this out of self-interest. I believe the most important aspect of investing in the market, once again, is to have a sell-stop in your portfolio, and I believe some, but not all, certified financial planners are the best people to do that for you.
Until the government sees fit to regulate and to uphold the securitied laws of the 1930’s, which were enacted for good and sound reasons, the stock market is nothing more than a big gamble. You might as well go to Las Vegas. Yeah, Martha Stewart was a threat all right! What utter foolishness.
Little conflict of interest . Of course Mr. Dan wants us to invest slow and staedy, he’s the pres of Sharebuilder. That’s how he makes his money!
This is hackneyed blather that is unappreciated by those who did all those things and still lost their shirt due to the shenanigans of those who control the markets. When the stock market is reformed so that it is what it should be, a place where investments are efficiently routed to companies that need and deserve capital, then it is worthy of our trust. While it remains a place where big time inside players rig speculative gambles so that they can reap unearned “winnings” while the rest of us bear all the risks it should be avoided. Come on, Obama, lets get serious about reform.
I started investing in stocks in Oct 2007–which of course with my luck turned out to be the all time high right before the collapse! But I didn’t panic and kept pouring in money in what I felt were sound stocks during the downturn. I am now almost at breakeven. I’m down around -2.5%.
But if I had panicked and pulled out, or not put in new money, I would be down around 35%.
“the stock market is nothing more than a big gamble. You might as well go to Las Vegas. ”
Actually, there’s an advantage in Las Vegas. You know the odds.
The problem with stock investing is that the probability distribution of returns is very wide; also, one person in one lifetime doesn’t experience enough business cycles to have confidence they can realize the average return.
I totally agree with Rick S’s comment. The Saver needs to be given much more respect
Does it pay to buy stock when your retired?
Let’s not over analize the basic investment guidelines in this article. It is simple yet sound advice, regardless the author. Diversity and patience if you leave here with nothing else.
Before Finanical meltdown occured I felt guilty for not buying more IRA’S etc…I thought I was a fool!!!
Now I have found out I was sooooooo lucky!!!
“And while all this was going on under Greenspan and Bush, the government sends that dangerous/uppity Martha Stewart to jail.”
The Enron thing happened before Bush 44 became president.
I have only been in the market now since mid-2007 and, honestly, I know very little beyond some of the very basics and therefore rely very heavily on my investment advisor representative. Of the couple dozen of people that I have talked in depth about finances with, most of them are in the same boat as me — they have a basic understanding of the market and how it works but are relatively green when it comes to the real hard, behind the scenes type of ongoings and really lack the very heavy financial background that most of your big guys in the market have. My advise to you, while you want to do your research into the market, of course, you should very heavily research who you are going to for advise and who you are entrusting your accounts to.
When I first came into the market I knew little about anything and just went to the first person that I could find — the representative operating at the financial group out of my credit union. She set my accounts up great in lots of mid-to-high risk, high gain accounts that were perfect for someone who planned on staying in the market for a very long time (30+ years) back in 2007 when the market was roaring. Much to my demise, I thought, that rep pulled out of the company and moved back east. Having increased my experience a bit over the 6 month period of time that I was with her, I decided to shop around for her replacement. After spending countless hours and days researching this move, I finally settled the man who is currently overseeing my accounts — and am I ever happy with him now. Just before the market started crashing he called me up and asked if I could come in to sit down and go over all of my holdings to reassess where I stood. At the conclusion of that meeting a new plan was worked up and agreed upon and a very large majority of my money was moved from all around the board into a number of ultra-low risk holdings that have very small, linear gains. Now, long-term this would be horrible, but the bulk of my losses were averted because of his expert insight. With the vast majority of my money moved in lossless accounts with very small gains, I was able to side step any hit to most of my money and the small amount of my money that was left in vulnerable positions was so low and partially offset by the small gains of the bulk of my money that I was able to avoid almost any loss at all — just under a -1.0% total loss overall. Would I have ever foreseen this myself? Not in a million years. Like most of the rest of the country, I would have been completely blindsided and taken massive hits, but because I did my homework and found an agent that I know has enough knowledge and insight into the market that I trust him with my money completely, I was able to come off with almost no losses at all. The best part is, with the market starting to stabalize and climb (hopefully it continues), I have slowly made small moves back into slightly more risky holding both by moving money out of the lessless accounts and also by investing a very small percentage of my bi-weekly paychecks automatically. If I stay at the rate that I am going now, within 5 weeks I will be at a break even point and it will all be profit from there — IF all goes perfectly, which anybody in the market knows that that “perfect situation” is only a myth! Either way, I agree with most of the well-known names that I have heard talking lately in their belief that the biggest of losses are done and over with.
For those of you who don’t want to risk losing anything and want the government to oversee the stock market and impose increased control and restrictions on the market, why don’t you just start putting $50-100 from each paycheck into a piggy bank and leave the real investing to those of us who want the opportunity to make ungodly amounts of money, even at the risk of losing everything. I don’t want anybody telling me how I am going to invest my money or putting any caps on what I can and cannot do. My financial future is my own doing and I refuse to let anyone control the decisions that are made about it besides myself. If I want to put 100% of my money into the riskiest areas of the market, I should be allowed to. And if I lose everything doing this, I made my bed and I will sleep in it. That is the name of the game, you know? I can’t wait for all those finger pointers who made bad choices to starting owning their own mistakes and taking responsibility for their own losses. You win some and you lose some, own it.
Stock brokers get their money through transaction fees.. if they made more money by taking their own advice, then they would be called investors, not brokers.
Invest when market is going up because it’s going up.. invest when market is down, because it will go up.. when do they ever advise not to invest?
As we’ve seen time and time again, no amount of “research” can predict such drastic market downturns. One commentator called stocks gambling… that’s what it is.
Try to make money by creating nothing, adding no value to the world, and placing existing $ to speculation and hope is not a retirement plan nor financial planning.
The most money my wife and I ever made was immediately after losing almost half a million bucks in the dot com bubble burst. We had to take large business risks to have a chance at rebuilding our net worth. We did. It worked.
I would not suggest anyone do it our way!
We were incredibly stupid to leave those huge profits on the table in the dot com surge.That was real money there for the taking. Its possibly the only time I’ve been right in financial matters as opposed to my wife. I said sell for a 6-8 weeks before it went away. Yes, I enjoyed the -” I told you so” but not much.
I believe that slow and steady wins the race. My Grandparents put a little here and there into a simple savings accounts and are now living off the hog. Safely I might add! The stock market is a big gamble and is totally unpredictable. Why give yourself a big stomach knot worrying about it. Remember, Ben Franklin said that compounding interest is the eighth wonder of the world. I wonder why? Remember the torise and the hare story? Don’t beleive the inflation hype either that you will money will actually be worth less in a savings account. NOT TRUE! Tell that to the millions of people whose retirement accounts are now worth 50% less than a year ago. Get conservative people! Check out a compounding interest calculator online and have some fun. Pretty interesting.
I agree with Rick S. We are still being manipulated by the banks, even after we gave them all that bail-out money. They are still giving LARGE bonuses and rubbing our noses in the stink. Without us and our deposits there would be no banks !!
Sitting with my hand on my head, waiting for more than promises. I am by nature a saver,
and a cautious spender. I go to a casino maybe once a year and refuse to lose more than $100
during my visit. That’s about all the risk I can muster. Good comments all and much to chew on.
Thanks
I have made a lot more money in the stock market (stocks & bonds) over the past 25 years than I have made in Las Vegas. …and yes I diversify! The odds of winning in Las Vegas are very low. I would rather take a chance of investing and choosing my risk level than gambling in the casinos. At least I still have my money plus some more at the end of the year. My luck is awful in the casinos. Learn to live below your means, save and invest 20% - 33% a year, and you should have a good retirement when that time comes.
If you are not willing to invest your money in a place other than a savings account your never going to be better off. The point of investing to have a higher future consumption which you cannot achieve in a savings account. Average inflation is 3% in the U.S. so your actually getting a negative real rate of return. You cant blame the banks for paying you low interest, low risk = low return. You have to be willing to learn about different tools you can use minimize your risk of loss. There is a volatility index “iv index” on the chicago board of options exchange website (cboe.com) that measures up to 30 days in the future. Anyone who watched this prior to the market crash would have known to take their money out! Also you have to diversify, and look outside the U.S. Look at correlations across markets. You want as low of positive or negative correlation as possible. Consider investing in the emerging markets; Brazil, Russia, India and China. Returns in these countries are insane. Look at BRICS mutual funds for these markets or ADR’s on the U.S. exchange. There is plenty of money to be made if your smart about what you do in stocks! I am a college student and have made 3,000 in the last month and a half in the market, thats WAY more than I could ever make in a savings account. Just read and try to understand these things and you will see that if you’re ever going to want to retire comfortably you need a portion of your money in stocks! As for the people who lost all their money in stocks right before retirement, well thats their own fault. The older you get the more you should be moving into bonds and other less risky investments and had they followed that rule they wouldn’t be hurting.
BURP
Since CD interest rates are low, I turned to Sharebuilder to invest in stocks. I would consider myself a “newbie investor” who scours the internet for sites that give valid information on stocks. I also gather information from watching the financial segments of the news, etc. on TV. Building a diversified porfolio fascinates me. Learning about stocks is endless because there are so many varied facets and so many ties to not only the economy of our country, but others as well. I began with a spiral notebook filling it with notes that have enabled a novice like me to to end up with paper earnings of almost 3k for this past July partly because I am a risk taker. Will I continue to do at least that well or better…I don’t know…but I know I will continue to be a self educated investor. I spent last evening reviewing my notes and the timing of my buying and selling stocks. What did I learn? I realized initially that I sold a couple of stocks too soon because I was about to hit the panic button. Currently I do not hold a paid subscription to any investing publication because there are many websites available online that have presented their information in a manner easy for me to grasp the fundamentals. I have read all comments above mine. I appreciate those of you who share your thoughts via this blog on Sharebuilder. Thank you. I would like to add that, in my humble opinion, I believe Sharebuilder should allow everyone access to their rating scale. There are sites that have rating scales and they do not charge a penny for that.
Saving account returns of 1% are insulting, and set us up for bringing people into the stock market who don’t stand against against insider computer trading and 1% plus service fees and personal collapse in net worth.. Until this country learns to invest and make returns based on real value increases (versus false financial “gains”), might be safer to keep it in a
mattress.
Serious writeoffs/exemptions for savings interest, writeoffs for education and infrastructure investments would be good places to start.
“The Enron thing happened before Bush 44 became president.”
The Enron meltdown occurred on G. W. Bush’s watch. Enron CEO Ken Lay helped get Bush into office by providing him with free jet service during his Champaign.
Mr. Welsh seems a bit bitter and fails to mention the economy is worse and spending in sky-rocketing under Mr. Obama. If Mr. McCain had been elected we would not be in this big of a mess and spending would be directed to small business, taxes would be lower. and the press would be investigating the poor unemployed workers being toss out there homes. Don’t see much of that kind of reporting now, do you!
You liberals just cannot stop blaming the Republicans even though you have all democrats; the House, the Senate, and the Presidency. Guess there is no one to blame now unless, of course, you look back and find a Republican. That way it takes your mind off the real current problems of a bad economy, high unemployment, and we are still fighting a war in Afganistan…oh, and our military kids being killed there is somehow more acceptable under the current commander-in-chief.
UR kidding! 8years of Bushbrought on this mess. Where were U the last 8 years, in kindergarten!
“Believe it or not, when it comes to long-term financial goals, the stock market is still the best place to put your money.”
No, I don’t believe it. Not anymore. Especially not on the advice of people that need me to “invest” to make money for themselves. Wall Street is a rigged game, much like a casino. The only way I ever made money was through my own work. So are the people on Wall Street, they make money through fees & commissions, it doesn’t matter if the market goes down or up. Plus they have US-politicians in their pocket, they can always get taxpayer money if they need it. This is also the reason why savers in the US are relentlessly punished by low interest rates. It drives them toward Wall Street and that’s where the politicians are getting there money from.
Transparency is a MUST!! Bank rates should just be published openly and sites should not give too much preferential treatment to banks when showing rates to consumers. (just rank by highest rate, safety rating, etc)…
I like the comment of MEG about the Las Vegas comparison !
Two key differences: the bank in LV always wins..and …you know more quickly what you have got: all or nothing.
Additional advice: always look in stock market over what PERIOD the gains are measured (and, but they like to not show this in general, the losses).
Always look back a long time, decades, to see how this stock really developed against its highest value during all these years. Especially if you look for a long time investement. Many stock values and stock portfolios (e.g. IT) are still far below their peak in 1999/2000 !! Will they even get back to those values? And if yes what aout the inflation correction that you had to wait to get those back? Long term investment: you really need to find the stock that does not go up like a jojo, else LV is your alternative.
In November I will turn 83, so obviously playing in the stock market is hardly sensible for me. My most recent investments were made a year ago in CD’s with a four year maturity and a 4.60% interest rate, made with the help of a bank investment counselor, who has access to a wide range of CD investment choices. I’m expecting to invest additional sums in four year maturities reasonably soon, provided the rates make sense to do so.
Hands down, the eight years under the Bush administration is largely responsible for this horrendous mess that the Obama administration is wrestling with. I’m convinced that this administration and particularly President Obama has the brains and the will to get us through it all, though it surely won’t be a walk in the park.
I am 66 and have not lost my nest egg because I actively look at market conditions and move money into less volatile investments as needed. I sold my 1990ies stock market mutual funds to pay off my mortgage. I use rewards credit cards and pay off the bill monthly. The trend seems to be on the frugal side for me and keeping my eyes open to see what pitfalls may lie ahead. I do have two stocks in this market; one a reit that deals mainly in apartments and one company in the US that is going to make battery packs for electric hybrid cars. The rest of the money is in fixed income. Good luck to all.
I bellived the dowmturn, comes from a blue print of change, That whent bad for the intier world. its like a cosmic encounter for most of us and we have to all complimize with the outcome.
No mames guyy!
I have invested in the stock market since 1995, I invested only in companies that have DRIPs and products that I use or know about. I buy stock only when on sale and buy directly from the companies no brokers. I pay no attention to the news. My stock goes up and down, I invest more when down less when up. My investments have over the years continue to gown worth more now than when I started. In my research history has show the stock market has been up more than down. I am a very small investor but slow and steady I have made more one the reinvested dividends than I have put in cash. I also have savings, 401k and IRA. I do not react I act on my long term goal. News is almost always negative and slanted that is why I never pay attention to it.
What is a mames ?
I was taught to look for a bargain, not cheap, but good items on sale. Why pay full price when you can sometimes get it at a discount. That is how I am looking at the market now. Is there garbage out there? Yes! But did good items get beat up as well? Yes! This will be the best market in my lifetime to buy into, no, invest into. But don’t be a trader trying to make the quick buck. Buy good companies that are at bargain prices and ride them as they return to their fair values.
GETTING STARTED EARLY WITH INVESTING /SAVINGS IS THE KEY TO HAVING ANY RETIREMENT AT ALL. SOME OF US DON’T HAVE AS MANY YEARS BEFORE US AS WE DID BEHIND US . ALL OF US WHO HAVE KNOWLEDGE SHOULD CONTINUE TO SHARE IT WITH OUR FAMILIES,FRIENDS ASSOCIATES, ETC. I BELIEVE WHEN WE ARM INDIVIDUALS WITH KNOWLEDGE ;WHEN THEY USE IT WE ALL PROSPER.
ALL THE COMMENTS THUS FAR HAVE BEEN VERY INFORMATIVE FOR ME.
THANKS FROM AN SAVER - INVESTORS
This advice/debate is only of passing interest to someone like me, who does not have a steady job, and may never again.
However, a couple of thoughts:
1. Diversifying means not just different kinds of stocks, bonds, etc, but also different kinds of savings. Inflation may scare some of you into thinking that savings accounts are for suckers, but not having any money scares me a lot more.
2. Automatic savings of any kind is better than none.
3. Gamble only with money you can afford to lose.
We did all the right things. Slow steady savings thru our employer matched 401, and later in life when the kids were gone we openned an account with ING that is auto deposited from our checking account each month. Then I got sik….really sick and ended up as a hopisce patient. We have lost all our savings, all our retirment and now owe the local hospital over $46,000 because they do not participate in CT’s state insurnce for low income and terminally illk families. I am not looking for a solution but advise would be nice, my point is that you can never plan for it all. Try to keep the credit cards minbimal because that was our only real fault and those are now only getting the minimum payment becse we have to pay each bill at the hospital ech month, they will not consolidate these into one account, which means they get less but get it each month to keep us out of court. Is it time to declasre bankrupcy or would that make things worse? I do not want to have those who lent us money in good faith go without some payment but my impending death gives me a limited amount of time. My husband was diagnosed with llung cancer last month and those bills will be much less then mine as his coverage is excellent….wish I could hav gotten on that but pre existing conditions make me uninsurable unless someone knows about a place to look.
MJ
This is essentially true. Everyone wants the big payoff and the lottery win in our culture. The truth is that slow and steady does win the race. It breaks down like this: save 20% of your income, reduce and eliminate debt (the #1 impairment to wealth-building for middle class families and build assets that produce more assets.
If you want another cool site to check out, you can check out http://www.boostmywealth.wordpress.com and a Facebook group called “Live The Lifestyle Your Family Deserves.” It’s free to join.
Thank you.
Just finished reading most of the posts in this chain. I did not see particular advice about investing and saving for retirement, and that is to realize that the days of the “fixed benefit” retirement plans is going the way of the buggy whip - you know, the plans that said if you work x years for y wages you wil receive z per month when you retire. Todays plans are the 401-K’s bing offered by more and more employers as a fixed contribution retirment plan. I believe there need to be more education and emphasis on these plans to encourage participation when such a plan is optional. I am amazed at the number of younger people who do not participate because the amount contributed each payday seems too small to invest. Worse yet - they were foregoing the contribution being made by the employer. At a minimum, the employee should contribute and amount that will derive the highest amount the employer will contribute.
There may have been a time when putting your money in the market was the best place to achieve your long-term financial goals. Unfortunately, I believe that time has passed.The problem is who do you trust?The American investor no longer has any experts to represent their interests. The current crises was not a random event. It had a real cause that was fundamental and structural. Our government, our financial markets, our largest financial institutions, and our biggest corporations entered into a corrupt business enterprise to rip off the American consumer and taxpayer. The entire mortgage financing business and much of Wall Street itself was corrupted, and through their campaign donations and lobbying they were able to corrupt our government. The Senate and Congress are no more than order takers from Wall Street. They were paid to ’stand down’ and not enforce existing regulations, nor to pass any new legislation, and to deregulate, to remove old regulation from books to allow our financial institutions the ability to do whatever they wished. The rating agencies are being paid by the issuer, not the investor. Commercial banks packaged securities and called them AAA with the paid assistance of the rating agencies.Capitalism cannot function with out rules and regulation and a government to enforce them.If and when we have a level playing field is when I will consider getting back in the market.I doubt I will see that in my lifetime.
Back to basics: the fundamentals of the U.S. economy and financial infrastructure still apply. Stay focussed, diversify and ignore the champions of doom and gloom.
It reminds me of the new version of Turtle and Rabbit story. Slow and steady always wins thats true but if you implement the right strategy. Without a proper plan and implementation, obviously slow will lose. You have to have milestone or goals to invest, plan for the goal and execute it. Without these 3 parameters, obviously any investing will fail whether its stock or real estate. I see many people talking stock market being a gamble casino. I heard this same slogan from my wife many times. IFor example, if you give a remote control to a baby without know the purpose it is going to play like a toy but to an adult he is going to drive the show. He knows exactly how to play with it. Similary, if you know how to play the game, nothing is a gamble. If you play wildely without any game plan or education, obviously its a gamble. Play your game with education and knowledge instead blindly. Thats my take being investing in stock and real estate for 7 odd years.
You can be your own financial planner(http://www.moneyreallymatters.com/content/be-your-own-financial-planner) if you have to invest on your self directed investing…
I only use a Checking account to bills. inever put any large amount of Mony in a Bank, and if I was going to do that I would never deposit Money in an American Bank! Gold and other tangibles are whare it’s at Baby!
Able to same money monthly, it has accumulated, not sure what to do with it…am in retirement. Target funds or index funds a possibility.
Appreciate feedback.
Thank you