Illustration: Patrick George/Getty Images

4 of 5
Keep It Simple
Angela asked me what I thought about her investing in a rental property to generate more income. I warned her that for someone so bright this was a plain dumb idea. Real estate is full of risks—renters can be unreliable, repairs and upkeep can be costly—and she doesn't yet have the financial security to make it worthwhile. Building her retirement account, adding to her emergency funds, saving for her own home come first.