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Having the inside track on how to best invest your money is smart. Here are the best insider secrets from seven of the best investment advisors today.

Don’t be a wuss with your investments," said Andy Smith, certified financial planner at Financial Engines. You have decades of life in front of you. While you should never do something that freaks you out, it’s important to remember that you have decades of your life in front of you and the investing fears you have today may not be the same ones you have when you are in your 60s.

Look to set up a Pre-Authorized Checking Account (PAC)," said Dan Connerty – EPC™, CPCA®Business Associate/Group Benefits Specialist. By automating your investment contributions, it can be not only emotionally freeing but can be most advantageous alongside a Dollar Cost Averaging purchasing strategy.

Ignore Rules of Thumb," Joshua Escalante Troesh, President, Purposeful Strategic Partners, shared. One of the most dangerous things for a retail investor is the proliferation of rules of thumb. They harm you by attempting to apply a one-size-fits-all portfolio which doesn’t consider the unique situation of each person. Proper portfolio constructions consider the individual’s retirement income needs, amount of Social Security benefit, the presence of a pension or other income, whether they have housing payments, the size of their portfolio. and many other highly personal factors.
You only make money on the buy. Many think its on the sale. But it’s not. If you don’t buy right, you won’t make money ," said Brett Anderson, CFP,
brett@stcroixadvisors.com
,
Market valuations are currently at historical highs," said Fahd Rachidy, CEO of
ABAKA.  Reduce your exposure to high risk investments. Investing for the long term in low cost index funds, and keeping your portfolio diversified across equities, bonds, commodities, gold or cash is the way to go.

The current U.S. national debt is over $21 trillion, which amounts to a tax burden of nearly $175,000 per individual. We will soon start seeing a rise in tax rates to help fill in an ever widening budget deficit and with nearly 10,000 baby boomers turning 65 every day, these individuals can do more to help keep the money they have worked so hard to accumulate. As part of a well-rounded portfolio, I strongly recommend my clients invest in 7702 Plans which are insurance policies that allow you to withdraw cash on a tax favored basis," said Gary Scheer, RFC, CSA of Complete Financial & Retirement Planning.

A great secret that is often forgotten in investing is “asset location,” said Michael Resnick, CFP Senior Wealth Management Advisor at GCG Financial, LLC. Because different investment types receive different tax treatments, an investor should keep the most tax inefficient assets in one type of account (tax deferred IRA/401(k)) and keep the more tax efficient investments in a taxable account.  The object is to minimize taxes and have more actual dollars in hand to spend.

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Shutterstock

Having the inside track on how to best invest your money is smart. Here are the best insider secrets from seven of the best investment advisors today.

Don’t be a wuss with your investments,” said Andy Smith, certified financial planner at Financial Engines. You have decades of life in front of you. While you should never do something that freaks you out, it’s important to remember that you have decades of your life in front of you and the investing fears you have today may not be the same ones you have when you are in your 60s.

Look to set up a Pre-Authorized Checking Account (PAC),” said Dan Connerty – EPC™, CPCA®Business Associate/Group Benefits Specialist. By automating your investment contributions, it can be not only emotionally freeing but can be most advantageous alongside a Dollar Cost Averaging purchasing strategy.

Ignore Rules of Thumb,” Joshua Escalante Troesh, President, Purposeful Strategic Partners, shared. One of the most dangerous things for a retail investor is the proliferation of rules of thumb. They harm you by attempting to apply a one-size-fits-all portfolio which doesn’t consider the unique situation of each person. Proper portfolio constructions consider the individual’s retirement income needs, amount of Social Security benefit, the presence of a pension or other income, whether they have housing payments, the size of their portfolio. and many other highly personal factors.

Market valuations are currently at historical highs,” said Fahd Rachidy, CEO of
ABAKA.  Reduce your exposure to high risk investments. Investing for the long term in low cost index funds, and keeping your portfolio diversified across equities, bonds, commodities, gold or cash is the way to go.

The current U.S. national debt is over $21 trillion, which amounts to a tax burden of nearly $175,000 per individual. We will soon start seeing a rise in tax rates to help fill in an ever widening budget deficit and with nearly 10,000 baby boomers turning 65 every day, these individuals can do more to help keep the money they have worked so hard to accumulate. As part of a well-rounded portfolio, I strongly recommend my clients invest in 7702 Plans which are insurance policies that allow you to withdraw cash on a tax favored basis,” said Gary Scheer, RFC, CSA of Complete Financial & Retirement Planning.

A great secret that is often forgotten in investing is “asset location,” said Michael Resnick, CFP Senior Wealth Management Advisor at GCG Financial, LLC. Because different investment types receive different tax treatments, an investor should keep the most tax inefficient assets in one type of account (tax deferred IRA/401(k)) and keep the more tax efficient investments in a taxable account.  The object is to minimize taxes and have more actual dollars in hand to spend.