Tips for conservative investor:
Buy "quality" companies stocks
Confidence will be there if you buy quality stocks and will not be tempted to sell when market suddenly dips.
At least 10% of income as savings
Savings is the start of wealth building as no money means nothing for investment which equals to nothing for retirement.
Live below your means (Being thrifty) as it is a common trait among successful businessmen.
With banks paying just 0.125% interest on savings. You might want to look into other options after the rainy day funds has been set up (At least 3 mths of expenses for singles & 6 mths for married couples).
Wednesday, February 17, 2010
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