Being in business for over 25 years, and helping clients make smart decisions about their money, I have compiled my top 10 financial planning commandments.

  1. Changing one's portfolio when one's financial goals have not changed is wrong and will depress future returns.
  2. The best day of the week to invest money is the one that ends in "day".
  3. Take advantage of market downturns.  This will help you get that much closer to your financial goals.
  4. Having a plan dictates the portfolio.  There is no portfolio without a plan.
  5. Diversification is key for every plan.  With diversification you do not make a killing, nor do you get killed.
  6. Studies have shown, about 90% of lifetime returns comes from how much cash, fixed income, and good quality companies you own.
  7. To be financially secure, one needs to embrace volatility.
  8. It is financial suicide to market time - you must be right twice.
  9. It takes great courage to not let "noise" affect your doubts/fears.
  10. Financial planning is not something you master in a week/month/year.  It is a life long journey.  With many long journeys it is best to hire yourself a guide.