The Oxford Club’s Tips for 2018

The Oxford Club, a network of investors and entrepreneurs, has set forth some tips for people to apply to their finances and investing habits this New Year. Lamentably most folks don’t plan or save for the future. However, this careless behavior has dire consequences. Many invest their hopes in the Government, secure in the delusion that federal programs will provide a safety net for them when they reach retirement age. The harsh reality is that the average person receives a measly $1,300 from Social Security, hardly enough to live comfortably off of. The truth is that it is in the hands of the individual to prepare for his/her own retirement. So, it may be said that thrift is a gift and saving is the only choice of a wise man. Thus, the wisest financial advisors will emphasize the importance of setting aside money to save for one’s future.

Another foolish mistake people make is to place too much confidence in their investment brokers. However, often these investments and votes of confidence don’t pay off as well for the individual as they do for their broker. The broker is in business to get rich himself, with or without his clients.

A strategy one may employ in a strong economy like that of the present United States is to rebalance his portfolio. That is to say, now that the market is strong, it would be perhaps an effective approach to sell of shares that have gained value and buy shares that have been lagging and are low in price. This way one can ensure to limit his risk. The idea being that the market is cyclical in nature, and that which is high today tomorrow will be low and vice versa.

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