A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully.

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn't it? But that's what investing without setting clear-cut goals is like. If you're lucky, you may end up with enough money to meet your needs, but you have no way to know for sure.

Do the reports of skimmers on ATM machines have you thinking about cutting up your debit card? Before you do anything rash, it’s important to keep in mind that the relatively rare occurrence of ATM fraud doesn’t outweigh the benefits your card offers.

Most Americans will receive Social Security and Medicare benefits at some point in their lives. For this reason, workers and retirees are concerned about potential program shortfalls that could affect future benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy annual reports to Congress that assess the health of these important programs.  The newest reports, released on June 5, 2018, discuss the current financial condition and ongoing financial challenges that both programs face, and project a Social Security cost-of-living adjustment (COLA)  for 2019.

Home equity loans are a simpler and less expensive alternative to the traditional mortgage refinance. As long as you don’t owe more than 90% of your home’s value, a first-lien home equity loan may be worth consideration.