Rather than rely upon traditional savings accounts, CDs or bonds to create a safe investment portfolio, Stanzione encourages rotation back into stocks especially for those looking to retire in 10 or 15 years.
Stanzione suggests the following strategies for maximizing one's investment returns:
- Avoid needless fees and costs as much as possible. Discount brokers and low-cost Exchange Traded Funds (ETFs) are a wise choice.
- Spend an hour or two a week doing research on simple, effective strategies.
- Maximize whatever tax benefits are available to you. For example, IRAs. Likewise, liquidate or move investment income in the most tax-efficient way possible.
- Refrain from analyzing stock returns more than once a week. Take a long term view of your investments.
- Know your risk tolerance and adopt a disciplined trading strategy with clear parameters.
- Living longer doesn't necessarily mean running out of money or subsisting on as little as possible. Smart, disciplined investing, with an emphasis on the US stock market, can provide capital to fund an ideal and virtually unlimited retirement.
--Written by Juliette Fairley for MainStreet