With markets looking wobbly in the face of continuing uncertainty in Washington over the fiscal cliff, many investors and financial planning clients find themselves either paralyzed, or tempted to rash action that may endanger their financial plans. To help them stay on track, Jeremy Welther, a principal and senior financial advisor at Madison, N.J.-based wealth management firm Brinton Eaton, offers these eight tips.
1. Stay diversified. While the bond market has "been on a tear" recently, investors shouldn't over-concentrate in any sector, even if its performing particularly well at the moment. A well-diversified portfolio should invest across a variety of industry sectors, and should include equities, fixed income, and alternative investments to balance risk.
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