Aside from jotting down a resolution to start fresh by next year, another important consideration is taking a review of your investments. Have you met your goals regarding wealth building, and increasing your net worth? If not, or if you think your efforts are still lacking, it would be a good idea to follow a guideline for your new set of rules as a more efficient investor.

Trim down those fees

Several payments can be a huge loss to your efforts to generate earnings, as proven by a recent survey claiming that the average mutual fund expenditures ratio is at 0.68% in 2015. For next year, you have two strategies at hand when it comes to lowering these costs. The first is to think twice regarding your investment choices. If you have been active in a certain field, try considering other options which can trim down expenses, such as ETFs. Next, if you have done this and still get the same results, it might be time to change your advisor. When looking for a replacement, focus on fee structure and credentials, and make sure you comprehend their offerings to get the most out of the service.

Proper diversification

Consolidating all your investments in a single asset class heightens its vulnerability in case the market experiences a decline. Hence, proper allocation serves as a protection against volatility. If your portfolio is in need of variety, you can try new forays by next year, such as real estate, since rental rates are forecast to hike by 1.7% in 2017.

Practice rebalancing

A regular rebalance of your portfolio is also a measure of appropriate asset distribution. This is probably among the usually neglected routine that investors fail to carry out. For a change, giving more attention to it by adjusting your rebalancing period to quarterly instead of annually can be a big aid to keeping track of where your investments are headed.

Mind your taxes

Along with payments, taxes can also cause a wipe out of your funds. While this is not a concern for those who own an eligible retirement plan like an IRA, it could be a problem for those with taxable investment accounts. To avoid getting drained, stay clear of inducing the capital-gain tax. These often occur when you sell a holding for a higher price than its actual cost when you purchased it. One strategy to minimize this, is again, to pick ETFs or index funds as these have a lower turnover than actively managed ones.