The volatility in the stock market, along with conflicting opinions from various analysts and reporters, etc., is very confusing to most investors. How does one stay focused in such an unclear global market environment?

It is best to concentrate on quality, fundamental investment principles at all times. Exercising patience through a long-term perspective and positive financial plan will make disciplined investment decisions easier throughout the various market cycles.

A financial plan is simply a roadmap that outlines the current location/situation, the specific destinations ahead (education, retirement, income, wealth accumulation, etc.), and the path toward reaching each goal, as well as some things to avoid.

The following "Financial Resolutions" mention some very important issues that should be considered for a good financial plan. Once the plan is in place, be sure to review it on a regular basis and whenever circumstances change.

Financial resolutions

1. PLAN, PLAN, PLAN

2. Establish a written investment policy....review it regularly!

3. Be sure your investment objectives are clearly outlined.

4. Avoid costly estate planning mistakes. Is your estate plan up to date? Do you have a current will? Do you need a trust?

5. Take maximum advantage of company retirement plans, IRA accounts and annuities.

6. Manage your income taxes.

7. Reduce/eliminate debt.

8. Have a good insurance plan (life, health, disability, liability, long-term healthcare, etc.).

9. Understand investment allocation. What is your level of risk?

10. Be sure your portfolio is diversified properly by investments and industries.

11. Invest to protect against inflation. Make a list of good growth stocks/stock mutual funds you would like to own.

12. Reduce risk by liquidating investments that are inappropriate for your portfolio.

13. Make investing a priority. Invest on a regular basis Ð monthly, quarterly, etc.

14. Consolidate accounts. Simplify your life.

15. Teach your children/grandchildren, etc. the value of saving and investing. For holidays, birthdays, graduation or marriage, make their next gift an investment.