Building Your Financial “Stop Doing” List: Stop Investing Without a Plan – By Steve Lowrie

We’re on a roll with our “STOP Doing” ideas. In prior posts, we advised you to STOP reacting to market noise and to STOP picking active money managers. Today, we’ll cover a great way to stop doing nearly every other bad investment idea out there: STOP trying to invest without a plan. Typically, this plan should come in the form of a detailed Investment Policy Statement (IPS) – a written agreement that you and anyone else who is helping you manage your money signs off on initially, and whenever you make changes to it.

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