CNBC's Jeff Cox, co-author of "The 30-Minute Millionaire" is sharing the tips investors need to know to profit from the market by spending just a half hour a week on their portfolios.
“This is not a get-rich-quick scheme,” he explained to CNBC. “This is a get-rich-smart scheme.”
"The 30-Minute Millionaire," co-authored by CNBC.com Finance Editor Cox and his writing partner Peter Tanous, is a blueprint for a road ahead that looks very different than the one traveled since the bull market began in 2009.
Cox and Tanous, chairman of Lynx Investment Advisory, see a slow-growth world in which investors need to shed short-term thinking and use passive strategies to deliver consistent returns.
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Cox said the goal is to avoid having retail investors avoid the hassle, danger and guesswork of picking individual stocks. “Leave stock picking to the smart people, to the pros,” he explained.
“My biggest concern with watching the market over the last seven years or so has been the ‘short-termism’ of investors,” Cox explained. He said most small investors “react to events too easily and to things that don’t matter to their long-term goals.”
Cox doesn’t discourage investors from doing their homework or obtaining information on stocks, but then suggests turn to ETFs or index funds as opposed to picking individual stocks. “You should know your investments completely,” Cox said. “Get the information, stay informed, stay on top of things,” he said. “Keep your perspective in the long term,” he said.
Whether you're new at investing or already preparing for retirement, the authors provide practical advice with specific examples, giving you the tools and knowledge you need on your path to becoming financially secure.
The book explains how to:
- Build a well-balanced, risk-mitigated portfolio;
- Achieve consistent returns over the long run through a passive approach;
- Follow contemporary asset allocation rules and objectives;
- Maintain discipline and patience in the face of difficult markets;
- Avoid common, and not-so-common, investing pitfalls;
- Invest in ETFs, commodities, gold, and other assets;
- Ignore time-consuming market reports;
- Understand the Fed's role in the economy and financial markets.
The authors also give detailed instructions on exactly how much cash you'll need to start (less than you think) and the best advice from financial gurus on your journey ahead.
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This is the duo's second book, the first being 2011's "Debt, Deficits and the Demise of the American Economy."
“Who better than two keen observers of markets to guide us to successful wealth accumulation in a world flooded with information containing lots of signals and noise,” said Mohamed El-Erian, Chief Economic Adviser at Allianz and a Newsmax Finance Insider.
“By showing investors how to be a lot smarter about their time allocation, including what to look for and why, this book provides you with important and durable tips and insights,” El-Erian said.
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