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I love everything that women and money Suze Orman says in this article. I haven’t read her content in a good while, but I really like that she is now recommending that people make investments based on what’s happening in the economy, not just a standard percent in various investments based on their age. It’s called asset allocation in financial lingo, divvying your money up among stocks and bonds and such.
This is a big shift for Suze, and for an investor’s portfolio management.
Yes, it is definitely easier to just put a certain percent of your wealth account in various type of investments based on your age, but you probably are already aware of much more than you realize about what’s happening in the economy. (Like with me and technology, I think “Oh, I knew that already, I just didn’t know it was called that!”)
And you don’t have to go it alone with more proactive investing; a lot of financial advisors invest based on what’s happening in the economy.
But you do, always, have to know the basics so you know where your money is and why.
You can read Suze Orman’s full article here. It’s packed full of investing basics.
http://www.nextavenue.org/blog/suze-ormans-tough-money-medicine