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I know there are a thousand opinions on what and where to invest, especially as one gets older and has more risk involved with time working against you. Listen to the words from Warren Buffett on investing:

Rule No. 1: Never lose money.

The great personal fortunes in this country weren’t built on a portfolio of fifty companies. They were built by someone who identified one wonderful business.

Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

It is not necessary to do extraordinary things to get extraordinary results.

You should look at stocks as small pieces of a business.

You should invest in a business that even a fool can run because someday a fool will.

With enough inside information and a million dollars, you can go broke in a year.

If calculus or algebra were required to be a great investor, I’d have to go back to delivering newspapers.

Wide diversification is only required when investors do not understand what they are doing.

I buy stocks when the lemmings are headed the other way.

I buy expensive suits. They just look cheap on me.

These are just some of the gems found in the book The Tao of Warren Buffett.

Here are 7 things I’ve done in the last year to create a plan of investing with the years I have ahead of me.

  1. started reading about successful strategies, time proven (Anything about Buffett such as The Essays of Warren Buffett : Lessons for Corporate America and Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! by Phil Town.
  2. picked out some businesses I really liked and did a little studying on their numbers
  3. subscribed to an online newsletter that for the last 20 years has followed an investment strategy mirroring the Buffett way and has publically documented results that are stellar.
  4. purchased 100 shares of Netflix in July. (It’s up almost 70% since that time.)
  5. kept away from any advice to get rich quick or advice from anyone that is broke. (Please note I am advising you consider not my words but the words of some pretty successful guys here instead.)
  6. opened a Roth IRA
  7. a commitment to live frugally, avoiding new debts as much as possible
  8. continue to read for investment knowledge, personal growth and inspiration (just finished Max Lucado’s 3:16: The Numbers of Hope.)

I am optimistic that staying the course with this plan will provide a retirement I can enjoy. I hope you will educate yourself and welcome your perspectives or findings. I am not suggesting there is only one way to go, but after 50 years, I find it time to listen to wise advisors when it comes to money and investing.

Do not let the years make you cynical. Stay in the game. Read, think, and be encouraged by taking steps forward.