21 best money tips ever

Some of the nation's leading business owners, investors, and thinkers share their thoughts on rebuilding your wealth.

7 of 21
7. Invest age-appropriately
Invest age-appropriately
Jack Bogle
Vanguard Group founder, who popularized investing through index funds

Best advice I can give: There is much that is worrisome in our economy. That's why your bond position should be commensurate with your age. In my case that means I have more than 80% in bonds. Someone in their fifties should consider 50%.

The value of the bond position is not just that it provides you some protection in a down market -- it does, of course. But its value is that it keeps you from making behavioral errors such as selling stocks during a panic.

Best advice I ever got: In the summer of 1949, I had a job as a runner at a brokerage firm. And one of the other guys working as a runner said, "Let me tell you all you need to know about the investment business: Nobody knows nuthin'."

He was right. Over the short term, we know nothing about what the markets will do.

NEXT: Be on the lookout for opportunities
Email | Print | Share
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Last updated May 04 2010: 4:23 PM ET
More Galleries
Our biggest money highs and lows How much money do you need to feel rich? What are your biggest money mistakes? Money magazine surveyed 1,000 Americans for the answers to these and other questions. See how your answers stack up. More
How we feel about our finances Participants in an exclusive Money magazine survey reveal how they feel about their finances. Although the Great Recession may be over, they're not all that confident about their prospects for the long run. More
8 ways to cut your tax bill To keep your tax bill as low as possible this filing season, you need to stay on top of all the ways the rules have changed. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.