PORT ST. LUCIE - Next week, we observe Earth Day. Can you apply some of the lessons of Earth Day to your approach to investing?
For example, Earth Day stresses the proper management of resources. As an investor, you can make the most of your existing resources by contributing as much as you can afford to your 401(k) or other employer-sponsored retirement plan.
Also, Earth Day teaches us to cut down on unnecessary consumption. In the investment arena, you can "over-consume" by making excessive trades. Too much buying and selling can result in significant fees, transaction costs and even taxes. Instead, consider purchasing quality investments and holding them for the long term.
Finally, Earth Day warns us about putting toxins in our environment. When you invest, it's important to avoid "toxic" behavior, such as chasing after hot stocks or making vain attempts to "time" the market.
By following these Earth Day-related suggestions, you can help yourself make progress toward a healthier — and possibly more productive — investment environment.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.
Jeffrey S. Emmeluth, 1315 NW St. Lucie West Blvd., Port St. Lucie, FL 34986, 772-344-8107.
This story is contributed by a member of the community and is neither endorsed nor affiliated with TCPalm.
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