1. Define Your Investment Goals & Objectives
  2. Define Your Investment Strategy for Your Portfolio
  3. Building Your Own Portfolio to Match Your Goals
  4. Monitoring and Rebalancing Your Portfolio
  5. The Bottom Line
  6. 401(k)s
  7. Exchange Traded Funds (ETFs)
  8. IRAs and Roth IRAs
  9. Mutual Funds
  10. 529 Plans
  11. Stocks
  12. Life Insurance
  13. Bonds
  14. Annuities
  15. Health Savings Accounts (HSAs)

You can become your own FA – but you have to be willing to put in some time and effort. It’s important that you understand the various types of retirement accounts and investment vehicles before risking any money. Do your homework, research your options and learn from your mistakes – as well as your successes.

Keep in mind, being your own FA doesn’t have to mean you go it alone. While you could be pretty savvy at picking stocks, for example, your understanding of current tax laws might be – well, somewhat limited. It’s O.K. (and even recommended) that you consult with a qualified tax specialist to make sure you understand the tax implications of your investment decisions, and that you report everything appropriately.

Even if you’re eager to manage all your investments yourself, there’s nothing wrong with consulting with a professional advisor – just once, or even once in a while. If you have questions, are unsure about a strategy you’re considering or just feel like you need a little direction, there’s no shame in asking for help.

The biggest thing, of course, is to approach your financial health with intention. Successful investing – and meeting your short- and long-term financial goals – requires someone in the driver’s seat.


401(k)s
Related Articles
  1. Investing

    Tips for Managing Your Portfolio Before Turning 30

    Young investors have some advantages over their older counterparts. Learn how to build a portfolio to grow both your financial education and bank account.
  2. Personal Finance

    2 Statements to Help You Understand Your Finances

    A balance sheet and cash flow statement will help you understand where you stand financially.
  3. Personal Finance

    Your Portfolio: Why Second Opinions Count

    Getting a sound second opinion on your investments is a smart move.
  4. Investing

    The Importance of Making an Annual Financial Plan

    Making an annual financial plan is a smart way to ensure staying on track with your retirement, savings and investing goals throughout the year.
  5. Retirement

    4 Steps to Successful Retirement Savings

    These four steps can get you on the right path to meet your retirement goals.
  6. Personal Finance

    18 Ways to Master Your Money in 2018

    Make 2018 the year you really, truly get control of your financial life. Your future self will thank you.
  7. Retirement

    Mistakes to Avoid When Investing in a 401(k)

    Common mistakes participants make when investing in a 401(k) and how to avoid them.
  8. Retirement

    Money Tips To Stretch Your Retirement Nest Egg

    Learn the key investment and savings tips you need to ensure your retirement savings last as long as you do.
  9. Personal Finance

    Conducting a Year-End Review of Your Finances

    The end of the year is often busy, but it's still the right time to review your financial situation and prepare for the new year.
Frequently Asked Questions
  1. Which Schools Did Warren Buffett Attend?

    Warren Buffett attended multiple prestigious schools on his path to success, but he places much more significance on real-world ...
  2. What are some examples of expansionary monetary policy?

    Learn about expansionary monetary policy and how central banks use discount rates, reserve ratios and purchases of securities ...
  3. What is the role of the nation-state in globalization?

    Learn about the evolving role of the nation-state in an increasingly globalized world as fewer boundaries restrict international ...
  4. What are some examples of positive correlation in economics?

    Learn the most common examples of positive correlation in macroeconomics and microeconomics, including demand and price, ...
Trading Center