By Jeffrey Meenes, CFP® (Published Date March 30, 2023)
The U.S. stock market has been an engine for wealth creation throughout the past century. This is especially true when investors are mindful of how markets work, what strategies deliver success, and what not to pay attention to.
How exactly can a successful investor approach the markets? In this blog tip series, we highlight ten principles an investor can follow to create a better investing experience and generate consistent returns over time.
Key Investing Principle #10 to Improve Your Odds of Investing Success: Focus on What You Can Control
Having a financial advisor who comprehensively understands your financial situation is crucial. This ensures that their recommendations are tailored to your specific needs and financial plan, which is vital for success.
While investing can be unpredictable, focusing on the aspects within your control is key: Create an investment plan to fit your needs and risk tolerance. Structure a portfolio along the dimensions of expected returns. Diversify globally. Manage expenses, turnover, and taxes. Stay disciplined through market dips and swings.
By developing, and implementing, an investment philosophy that you can stick with, you will be able to weather market storms and avoid making rash decisions that could hurt your returns. At Meenes Wealth Partners, we base our investment philosophy on long-term evidence, research, and analysis, rather than fleeting investment ideas.
To improve your investment experience, it's important to focus on what you can control. One way to do this is by working with a qualified financial adviser who can help you develop an investment strategy tailored to your financial goals for you, your family, and your retirement plan. An adviser can provide valuable expertise and guidance to help you take actions that add value. This approach can lead to a more positive investment experience.
This content is developed from sources believed to be providing accurate information, and provided by Meenes Wealth Partners. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.