One key to becoming a successful investor is to "keep your eyes up and [looking] over the horizon" — as SMI Executive Editor Mark Biller explains on today's MoneyWise radio program.
Only by maintaining a long-term look can you avoid the emotional pitfalls that keep many investors "from getting the type of long-term returns they could and should be getting," he notes. Mark marshals evidence from nearly the past 70 years to show that investors who earned the best returns are those who stayed the course, regardless of the vicissitudes of the economy or the news cycle.
Later Mark fields caller questions, including:
- "I'm retired. How can gain a greater return on my savings?"
- "We're close to paying off our mortgage. Should we go ahead and pay it off with some of our retirement funds?"
You can listen to the entire program below. (For previous programs featuring members of the SMI team, visit our Resources page.)
MoneyWise, with Rob West and Steve Moore, is produced by Compass – Finances God's Way.
To participate in a future program, call 1-800-525-7000 and mention you have a question for either Mark Biller or Matt Bell of Sound Mind Investing.