No. of Recommendations: 3
Bottom fishing in the banking industry. Never do it because the bank regulators can take you for a 100% loss.

Never take anyone's advice. Listen and evaluate and then make your own decisions thus you can only blame yourself.

Never invest money you can't afford to lose.

Stay diversified. (I can't seem to do this totally I still have a winner that is holding at 30% of assets and I know better. Every time I have taken money out I would have done better if I had left it in this stock in the long run held it since 74) I can't seem to bring myself to have 30 to 40% in bonds even though based on my age 59 that is where I should be. They just don't make enough after inflation. My current allocation is 70% equities(30+ stocks and mutual funds), 21% real estate, 2 bonds, 5% insured cash, 2% non-liquid items. My father who lived to be a 100 had a similar asset allocation and his long term return was 6.2 %. So if you are making around that you are doing ok.

Keep a small portion of your assets for the cazy part of you and play with it. The rest is in long haul stocks that pay dividends.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.