3 New Year resolutions well worth keeping

first_imgGranted, the FTSE 100 has more of a global feel to it than the leading indices of many other countries, but there’s no denying that this global feel is concentrated in just a few industries and sectors. Very largely, they’re all resources stocks, financials, or pharmaceuticals. Malcolm Wheatley | Saturday, 16th January, 2021 Image source: Getty Images 3 New Year resolutions well worth keeping Simply click below to discover how you can take advantage of this. Plunging markets during 2020 will have made that particular choice a painful one: better by far to take your income from dividends, in my view, rather then being forced to sell stocks at depressed prices.So what to do? If you’re intending to be an income investor in your later years, start transitioning into it in plenty of time.Invest in yourselfFinally, the business of building up a decent nest-egg is a serious one: sustained wealth accumulation is rarely an accidental process. Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. So here are three suggestions for New Year resolutions that are worth sticking to.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Go globalI’ve written before, several months ago, about the importance of a globally diversified portfolio. And that’s because ordinary retail investors – that’s you and I, in short – are often notoriously prone to ‘home country bias’. Enter Your Email Address Famously, New Year resolutions are difficult to keep. We start off with good intentions, intending to diet and join a gym, but by February it’s back to pork pies on the sofa as we binge on reality TV. And it’s this: I’ve seen a good number growth-focused investors approach retirement with very little actual experience of income investing. And to be blunt, age 65 – or thereabouts – isn’t the best time to start acquiring that experience. Click here to claim your free copy of this special investing report now! The Motley Fool UK owns shares in Alphabet (Google’s parent company). Malcolm holds no position in any of the shares mentioned.  I’m exaggerating, I know. But you get the point: despite our best intentions, it can be difficult to stick to New Year resolutions. But when it comes to New Year resolutions to do with investing, it really is worth going the extra mile, and making some extra effort.And that’s because investing is all about building wealth – your wealth. Wealth intended to provide for you in your retirement, and to deliver on your long-term lifestyle aspirations. Backslide on going to the gym, or reading 25 of the Great Classics, and the consequences won’t be as serious. But a poorly performing investment portfolio can have lasting – and serious – repercussions.center_img So my final resolution is this: invest time in your portfolio. Yet all too often, it’s left largely to chance. Our 6 ‘Best Buys Now’ Shares Take the time to read, to think, and to browse the wealth of online resources out there. Know what you want to achieve – and more importantly, have a plan for getting there. If you’re in your twenties, thirties or early forties, I have absolutely no quarrel with you if you’re a growth investor. But past your mid-forties, I have a warning bell to sound if you’re thinking of using your investments to fund your retirement, or to buffer a gradual transition into retirement. Worse, I’ve seen investors doggedly determined to never be an income investor, but simply sell a few stocks every so often to generate cash. So maybe you can achieve that exercise-related New Year resolution after all… 5 Stocks For Trying To Build Wealth After 50 And of those various activities, I’d suggest, it’s the thinking and strategising that are probably the most important – and most overlooked – activities.The good news? These can be done anywhere. On the sofa, certainly – accompanied by a pork pie or not, as you choose. But also at the gym, on the golf course, or during a long walk. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. A few investment funds here, a few shares bought as Sunday newspaper tips there. A little buying, a little selling – and precious little by way of a strategy, or reasonable asset allocation. Worse, there are entire industries and sectors that are wholly missing. Here in the UK, we have no listed companies that are the equivalent of Boeing, Airbus, Alphabet (Google’s parent company), Microsoft, Tesla, Volkswagen, BMW, Honda or Toyota, for instance.How to remedy this? Buy individual foreign stocks directly, or (an often-better option in my view) take a look at some of the large UK-listed global investment trusts that are out there.Needing income? Don’t leave it too lateVery broadly, investors fall into two categories: growth-focused investors, and income-focused investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Malcolm Wheatleylast_img read more