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A banner year for stocks means you probably didn't wince the last time you looked at your 401(k). It also means that your asset allocation is probably out of whack. A $100,000 portfolio invested in 60% stocks and 40% bonds and cash and rebalanced annually for the past 37 years would have grown to $2.9 million, vs. $2.5 million for one that was never rebalanced, according to the Schwab Center for Financial Research.
2. Earn one new credential
The economy is getting back on track, but the job market has a long way to go. So develop a skill that will make you more attractive to your current employer or a prospective one. Some in high demand right now include project-management certification, blog software like WordPress, and expertise in data-crunching programs like Excel and search-engine optimization, says Fabio Rosati, CEO of Elance.com, a website that helps freelancers find jobs.
(Money Magazine) -- Question: I'm 25 and want to start investing in the stock market, but I'm unsure of how to do it. Any advice? --Kyle, Bentonville, Arkansas
Answer: After all the lousy news of the past few years -- the collapse and near-collapse of some of the nation's largest financial institutions, the long and deep recession, the horrendous job losses and a more than 50% decline in stock prices from 2007's high to 2009's low -- it's heartening to hear from young investors like you who still recognize the value of investing in stocks.
That's important because even though recent events have reminded us that investing in equities isn't anything close to the all-gain-no-pain path to riches it was once portrayed as, stocks still offer the best shot at the long-term gains needed to achieve financial security and a comfortable retirement.
