Financial New Year's Resolutions

Dec 31, 2006 by

My resolutions for 2007 are to:

  • Always use logic that can be easily¬†explained to others when deciding to make trades
  • Learn more about fundamental and technical analysis
  • Begin trading options
  • Behave in a more risk-neutral fashion
  • Increase my risk-free rate of return from the 5.35% it is today to over 6%
  • Have a return of at least 12% on my “risky” investments
  • Donate some money to charities I support (Boy Scouts of America & MIT)

What are your new year’s resolutions?

6 Comments

  1. Z. Sigmon

    1) Open an IRA
    2) Diversify investments
    3) Put more into liquid accounts, such as savings, etc.

  2. Scott

    My financial resolutions for 2007 are:

    1. Move most of my savings acccount funds to CDs to get a better rate of return.

    2. Teach my niece how to manage her money better.

    3. Learn more about what Exchange Traded Funds are all about.

  3. kewsh

    1) Pay off the credit card and cut it up.
    2) Invest in 401k. I work for a state so I have a state retirement fund instead of 401k. I want both.
    3) Stop wasting money on “designer” clothing.
    4) Stop driving my car so hard to save on gas.
    5) Sell stocks and move the money into mutual or hedge funds.
    6) Stop buying things on credit or 0% interest for 90 days.

  4. My financial New Year’s Resolutions for 2007 are:

    1.-Go over my monthly budget and determine what expenses I can either minimize or get rid of altogether.

    2.-Before I make a purchase take the time to consider whether it is a “need” or a “want” and spend accordingly.

    3.-Open savings accounts for my 2 youngest children (my 2 older kids already have one). Help them begin to save and explain the value of money to them.

  5. 1. Pay off my credit cards
    2. Purchase a house
    3. Spread my 401K around better stocks

  6. Meredith Phillips

    My strategy for the new year is to build a ladder of CD’s, as savings adds up. I have been investing in 9 to 15 month CD’s a t around 5 to 5.5% APY at about $500 to $1000 each. By always having a CD ready to mature, I have access to a chunk of money without having to be penalized for early withdrawal in case of an emergency need.

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