Minimalism tips

If you invest in the stock market, you need to rebalance your portfolio. It’s generally not a good idea to invest and never look at your portfolio again. Rebalancing is when you buy and sell assets to match the asset allocation you originally decided on. If this sounds foreign to you, that’s okay. But if you’re investing in the stock market and you don’t know what rebalancing is, take time to learn more about it so you don’t sabotage your efforts. Rebalancing is important. A book that helped me understand this was I Will Teach You To Be Rich by Ramit Sethi.

When you invest in the stock market, you end up paying fees in some capacity. Whether it’s fees from the funds you invest in, the brokerage firm you use, the financial advisor you hire, or a combination of these – you’re going to pay fees. The amount of fees you pay varies and can be tricky to figure out. Make sure you know how much you’re paying in total fees. You can look at your fee schedule on your investment account statement (specifically at the expense ratio of the portfolio) in addition to adding out of pocket fees you pay for services you get with your investments. Fees are sometimes hidden and tricky to find. Make it a priority to know what you’re paying in total fees so you’re not duped into paying more than you should be paying.