The Power of Doing Nada
- By DailyWorth Team
- July 14, 2011
You may be surprised—or relieved—to know that women have innate wealth-building instincts, especially when it comes to investing.
Unlike the Tarzans on the trading floor, research shows that women are more likely to sit tight and take fewer risks.
In fact, women's ability to wait and watch helps them to reap higher returns.
Does that mean you should do nothing, literally, with your portfolio?
In this funny MarketWatch article, Kathy Kristof argues yes.
"To get rich and stay rich, you need to practice doing nothing in two places… at the shopping mall, and on Wall Street."
You already know that being too lazy to take out your wallet in a store (even when tempted by summer super sales) is wise.
But it also pays to sit on your hands when market turmoil or unsettling economic news (the debt ceiling debacle! Greece! Italy!) makes you want to Do Something.
Keep your contributions steady.
Stick to your investment plan—unless you have a good reason to make changes.*
Now sit back, do nothing and enjoy your summer.
*Needless to say, if you don’t have an IRA or 401k, starting one would be a smart way to take action.
Take a dip. Does bad financial news make you antsy?
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