Do you remember the U.S. Department of Agriculture's food pyramid? Even though the USDA abandoned the pyramid as an image to help set dietary priorities, it's still a useful shape to convey how to allocate your time and resources, including when you're investing.
At the bottom of the pyramid are the activities that you should spend the most time and energy on because they have the biggest impact on your results. They're the equivalent of broccoli and brown rice. Meanwhile, at the top are tasks that, though worthwhile, will have a smaller impact on your bottom line.
Here's a look at the investment pyramid Morningstar’s Director of Financial Planning, Christine Benz, would propose, ranging from what should be investors' top priorities--the base of the pyramid--to the least important ones. If you have a finite amount of time to devote to your investment activities, this can help guide the way.
Pyramid's Base: Set Goals >>