How to Know When You Have Enough

Overview: How do you know when you have enough? It’s a different answer for everyone, but not knowing it can put your investments in jeopardy.

Kurt Vonnegut related this story about fellow author Joseph Heller. The two were at a billionaire’s party on Shelter Island. Vonnegut asked Heller how it made him feel that the host may have made more money in one day than Catch-22 (Heller’s most famous work) did in its entire run. Heller replied that he had something the host could never have, “The knowledge that I’ve got enough.”

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Err on the Side of Conservatism

A more conservative portfolio you’ll actually stick with is better in the long run than the more aggressive portfolio that you’ll abandon (often at the worst possible time). Tim Maurer talks risk tolerance on CNBC’s Closing Bell.

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