Personal Finance in Your 50s All-in-One For Dummies
Book image
Explore Book Buy On Amazon
Life can throw you some financial curveballs, but you don't have to be at the mercy of financial markets even if you're not able to control them. To protect against financial uncertainties, use the following strategies:
  • Plan for life's certainties and prepare for life's uncertainties.

  • Invest in and protect your ability to earn money; it's likely your most valuable asset.

  • Adequately insure yourself, your stuff, and your income stream.

  • Minimize or eliminate debt, and focus on building a great credit score.

  • Maintain an emergency reserve fund.

  • Invest for your goals, time horizon, and risk tolerance.

  • Diversify your portfolio across a broad mix of asset classes.

  • Monitor and rebalance your portfolio to maintain your target asset allocation.

About This Article

This article can be found in the category: