If you need help doing so, consider hiring a fiduciary, fee-only financial planner who provides good advice at a fair price. While this stuff is not that hard to learn, the consequences of doing it poorly (or not doing it at all) compound over time. It may be well worth paying a few thousand dollars to get started on the right foot. Alternatively, come to the ACEP-sponsored workshop the Saturday prior to ACEP24 in Las Vegas, and I’ll help you walk through the process of writing your own financial plan.

Whatever you do, don’t just buy the hottest performing stock, mutual fund, or other investment available—that approach does not necessarily lead to long-term investing success.

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Dr. Dahle blogs at and is a best-selling author and podcaster. He is not a licensed financial adviser, accountant, or attorney and recommends you consult with your own advisers prior to acting on any information you read here.