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Mar
21
2007
Money Money Money: Investment Advice
Posted at 11:08:57 AM by Lance Turner 0 comments
Much more money advice today.

First, here's a list of things NOT to do. The Digerati Life chronicles some big money mistakes that cost that blogger, his friends and family some big bucks over the years. Advice on all fronts, including real estate, investing and money management. A taste:

Committing to huge expenses while our portfolio was rising
There was a time not too long ago that we were sitting pretty on a pile of dough when our highly concentrated stock position was peaking. That time, we did not necessarily feel it was peaking as it was simply rising in a straight up trajectory with no end in sight. While this was happening, we felt confident enough to embark on a house project which involved a room remodel. Though the price quote was steep (it was for this type of work), we signed the builder’s contract without hesitation knowing that we were flush. Our mistake was to psychologically consider our paper wealth as real. We did not redeem our position and instead rode the stock down, subsequently making us feel pretty pinched. Moral of the story: do not use imaginary wealth to fund your big purchases!

And over at Fast Company, the magazine offers 10 tips for sensible investments. This guide offers advice for "investors seeking to generate compelling returns and benefit society. It's sensible investing that's very conscientious."

To me, that's the best kind of investing.

My Foolish Money Mistakes: Moves That Cost Me More Than $1,000 Each [The Digerati Life]
10 Tips for Making Sensible Investments (slideshow) [Fast Company]

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