Some people hate making resolutions (especially because some of you have been writing variations on the "get in shape" theme since college, but this year, you’re serious. We know you are.), but now is as good a time as any to evaluate where you stand with your exchange traded funds (ETFs) and make your resolutions for next year.
May we suggest a few?
- Resolve to stick to your discipline. We know, last year was rocky. It was hard not to get emotional, wasn’t it? We can’t predict the future, so we don’t know what’s in store for 2008. Will it be similarly bumpy? Who knows? One way to avoid pulling every last hair out of your head in frustration is to have a plan and adhere to it no matter what.
- Resolve to pay attention to the news. Political upheaval, major weather events and leadership changes are among the things that can indirectly affect your holdings. Don’t just isolate yourself to the business section.
- Resolve to pay attention to your investments. Are you coming up on a major life change, such as having children or entering the homestretch before retirement? Look at your portfolio and make sure it’s still working for you.
- Resolve not to invest in something simply because it’s "hot." That’s the best way to get burned. Invest because it fits your needs, interests and your portfolio.
- Resolve to read ETFTrends every day for the latest ETF news. Well, of course we were going to suggest that!
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.