20 Guiding Principles for Investing Success
Investing is getting a bad name at the moment. Why bother investing if shares collapse, house prices tumble and banks can't even be trusted to still be solvent tomorrow. Despite all the doom and gloom, no amount of wealth can be created without sensible investment. To help you along the way, Knight Kiplinger, editor-in-chief of Kiplinger's Personal Finance Magazine offers his investor manifesto, with 20 guiding principles for investment success.
"I am an investor. I do not trade my assets frequently. That's speculation, not investing.
I am also a saver, fueling my investments with continuous savings from current income.
I know that every kind of asset entails risk -- even cash, which can be eroded by inflation.
I know that higher returns entail higher risk, in every kind of asset.
I accept those risks, but I mitigate them by owning a diversity of assets.
I regard my home as a place to live, not as an investment. It is not a substitute for retirement savings."
Read the rest of the manifesto at:
http://www.kiplinger.com/magazine/archives/2009/06/knight_kiplinger.html
