Jean Chatzky
When it comes to investment strategies, Jean says her personal mantra is "boring is better." "A boring investment strategy is one of those things that, once you get into it, it will get you set in a position for a life and retirement that you can live with," she says. Financial adviser P.J. DiNuzzo agrees with Jean and shares with her investment advice that he says may be boring but is better for the average investor in the long run.

P.J. offeres tips he says will help you pave a path to retirement without losing your money in the market.

  • Contribute to your 401k early, set some life goals and manage your expectations. "Managing expectations is a big part of our job," he says of financial advisers. Telling people to cut back on travel and other luxuries doesn't always go over well, but P.J. says it is necessary. "Once I show them that everything we are recommending is of a prudent variety, they start to come around."
  • If you are nearing 50 and have not saved enough for retirement, P.J. says there are things you can do to make up for lost time. "They would need to start to focus on maxing out their qualified plans as soon as possible, so 401ks and IRAs," he says.
  • Set a strategy that works for you. "If it is 60 percent in stocks 40 percent in bonds, invest that 100 percent in indexes on both sides of the ledger," he says. "Know that you are doing the best, don't second-guess yourself, give it time and continue to add to your portfolio, and you will be very happy."
  • Lose the overconfidence. P.J. says some studies show that women are better investors than men because they put their money in the market and then let it ride. Men often think they can predict where the market is going. "It's the most competitive market on earth, and there just isn't information that some people know that other people don't," P.J. says.
  • Don't be tempted to change your investment strategy just because the market is having a good day. Jean says you should take a walk, run some errands…anything to get your mind off the market.