Then, be prepared to see your investment sink lower before it turns around and starts to pay off. As much as you need to know the market, you need to know yourself too.Can you handle staying in when everyone else is jumping ship?And once you've made a decision, make sure to re-evaluate your portfolio on a timely basis. It's learning to live on less than you make, so you can give money back and have money to invest.A wise holding today may not be a wise holding in the future. You can't win until you do this." - Dave Ramsey By being modest in your spending, you can ensure you will have enough for retirement and can give back to the community as well. "Investing should be more like watching paint dry or watching grass grow. I would invest instead and let the investments cover it." - Dave Ramsey A perfect answer to the question: "Should I pay off my _____(fill in the blank) or invest for retirement?
For us "regular Joes," the questions seem never-ending.Though markets may change, good investing advice is timeless.(For more information, see TUTORIAL: Retirement Planning 1.Don't speculate that this particular time will be any different. "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett In the beginning, diversification is relevant.For example, a major key to investing in a particular stock or bond fund is its performance over five years. Once you've gotten your feet wet and have confidence in your investments, you can adjust your portfolio accordingly and make bigger bets.Unless otherwise indicated, all content is licensed under a Creative Commons Attribution License. All Scripture quotations, unless otherwise indicated, are taken from The Holy Bible, English Standard Version. If you want excitement, take 0 and go to Las Vegas." - Paul Samuelson If you think investing is gambling, you're doing it wrong. However, the gains you see over time are indeed exciting! " That said, a credit card balance ringing up 30% can turn into a black hole if not paid off quickly.Basically, pay off debt at high interest rates and keep debt at low ones. "The four most dangerous words in investing are: 'this time it's different.'" - Sir John Templeton Follow market trends and history.Identify your talents and find a way to turn them into an income-generating vehicle.In doing so, you can truly leverage your career into an "engine of your wealth." 8.