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Let’s Get Real About Money!: Profit from the Habits of the Best Personal Finance Managers by Eric Tyson

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Chapter 14. Your Investing Plan

 

“The man who makes no mistakes does not usually make anything.”

 
 --Edward Phelps

Before you jump into investing in this mutual fund or that certificate of deposit, you should consider some important personal and financial issues. If you don’t, you’re putting the cart before the horse. For example, don’t begin with planning your investments if you have consumer debt and haven’t dealt with that or if you haven’t developed an overall financial plan. Other parts of this book can help you with these tasks.

A critical issue to weigh before investing is the length of time you have in mind. Most of the better investments are relatively liquid—that’s not the concern. The potential problem is that if you invest your money ...

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