Water Well Journal

June 2016

Water Well Journal

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Monitoring day-to-day or hour-to-hour stock movements Modern technology has made it easy for computer users to monitor stock market activity in live time. Obsessing over the hourly ups and downs, especially in the volatile markets we've been experi- encing lately, is a surefire recipe for the kind of anxiety that leads to poor invest- ing decisions. Leave that kind of behavior to the day traders. Have a long-term plan and stick to it. Setting unrealistic or not clearly defined goals Failing to have an overall plan for your investments is, in itself, a step to- ward poor results. To be successful, an investing plan must be made on sound principles. Setting goals that are too vague such as "improving my returns" or unrealistic such as planning on a 15% return are likely to accomplish nothing more than abandoning the plan. Paying too much attention to financial media Stay away from those financial news shows and newsletters claiming to let you in on investing secrets that will make you rich. It's highly unlikely they'll offer you anything that will advance your investing goals. If anyone has investment secrets that would make you rich, it's unlikely they'd be touting them on TV or writing about them in subscription newsletters. They would simply use those secrets to make millions for themselves and wouldn't have to sell newsletters to make a living. Always keep in mind there are lots of people out there whose sole objective is separating you from your money. Of course, there are many other potholes along the road to successful investing. You may have thought about a few yourself. But carefully avoiding these eight mistakes will go a long way toward making your investment journey safe and successful. Information in this article is provided for educational and reference purposes only. It is not intended to provide specific advice or individual recommendations. Consult an accountant or tax adviser for advice regarding your particular situation. WWJ Bill Lynott is a management consultant, author, and lecturer who writes on business and financial topics for a number of publications. His book, Money: How to Make the Most of What You've Got, is available through any bookstore. You can reach him at wlynott@cs.com or through his website: www.blynott.com. WWJ June 2016 53 Twitter @WaterWellJournl Get Business Tools in the NGWA Bookstore Head to the NGWA Online Bookstore at the website of the National Ground Water Association when you're looking for your next business tool to aid your business. You can find cost calculators, contracts, best suggested practices, and more. The calculators are for water well drilling, pump installation, and geothermal drilling. Visit the Online Bookstore at www.NGWA.org when it's time to get your next business tool. Flomatic's valves are used by more pump manufacturers than any other valve on the market. This new, exclusive poppet system ensures that the valve smoothly and automatically adjusts to flow changes and is noiseless at even very low flows. Call for complete information at 800-833-2040 or visit us on the web at www.flomatic.com New patented submersible pump check valve for use on variable flow demand (VFD) systems and applications. Standard check valves will "chatter" and be noisy when the system goes to low flow, causing eventual failure. The unique Model 80E VFD and100E VFD valves are designed to minimize flow losses and hydraulic shocks in the pumping system. Flomatic Corporation 15 Pruynʼs Island Drive Glens Falls, NY 12801 Phone: (800) 833-2040 • (518) 761-9797 Fax: (518) 761-9798 • www.flomatic.com Email: flomatic@flomatic.com High Quality Valves Built To Last... New VFD Enviro-Check ® Valve with a 5 - year warranty Now Available 1" - 4" Patented VFD Check Valves (Also available in Ductile Iron and Stainless Steel 1" thru 8") America's First Choice Composite Poppet Stainless Steel Poppet The Groundwater NGWA Association

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