Expert Advice That Pays Off

Expert Advice That Pays Off


When it comes to making and keeping cash, the experts will tell you that the best advice isn't new or trendy. So take it from those who've seen what works and what doesn't:


Donald Trump, real estate mogul and star of "The Apprentice":
On debt "Review your budget regularly a�� see where your blind spots are. I know people who don't count entertainment or alcohol or whatever a�� everything must be accounted for. Even a tiny leak can sink a ship. The same with finances."

Jonathan Clements, senior special writer, The Wall Street Journal:
On investing "People bank their financial future on crazy strategies. They are betting the housing market will keep soaring, investing hefty sums in hedge funds or equity-indexed annuities. But there is no easy way to get rich quick. If folks want to retire in comfort, they've got to stick with the basics: Save regularly, diversify broadly. Favour low-cost mutual funds. And show some patience."

Robert Kiyosaki, author of Rich Dad, Poor Dad:
On paying for university "Buy oil! As soon as the kids are born. Oil consumption is up, but supply is down. Get a mutual fund that sells oil stocks a�� Exxon, Mobil, but not Enron! A barrel of oil was $10 in 1998; now it's $60."

David Gardner, editor, The Motley Fool (fool.com) website:
On stocks "What do I invest in? An index fund a�� like those that track the Standard & Poor's 500 a�� because they are mostly managed by machines for a very low fee, not by humans trying to finance their vacations."


"When it comes to money, it's better to do nothing than to do something you don't understand."
Suze Orman, O Magazine