What about forex investing? Oil? The middle east?
I get these emails all the time and they drive me nuts.
Victor writes:
I read your blog often, and I’ve been looking into trading currency on FOREX. I know there is lots of risk to it, as there is to any type of investing. What is your advice and idea on it?
My response:
Have you set up a proper asset allocation already, with automatic investing and at least 10% of your money being invested each month?
I never heard from Victor again.
Sometimes we get too fancy with all the choices available to us, forgetting the most important part. Remember, 90%+ of your investment returns are due to your asset allocation. See some sample asset allocations here (or just invest in a target-date fund).
New feature: Money Diaries. I’m launching something called Money Diaries, and I’m looking for people who want to (anonymously) write about their most ridiculous and interesting money experiences in day-to-day, minute-by-minute style. Did you feel guilty about buying that purse? Or did you just save $1,000 by bargaining with the car salesman?
Check out Sex Diaries to get an example.
It’s anonymous (what do you have to lose?), so if you’re interested, apply to be featured in Money Diaries.
