Keep It Simple, Stupid (aka Keep It Sweet and Simple).
With banking, that is why I chose Wamu over other online savings accounts that have higher APYs. I simply don't want to have multiple savings accounts linked together. One account with a good APY is sufficient for my needs. For my company 401k, I have maxed out the free money that the company matches and have it all going towards a target date retirement fund. This allows me to not have to worry about adjusting my portfolio as I get older. It sets most of my money going towards stocks right now and gradually adjusts it for me. It doesn't get any simpler than that. I don't like to complicate things. I've noticed a lot of money maestros like to take advantage of the 0% APR balance transfers from their credit cards to make money off interest. If you have more time to do that and are good at managing more bills, then more power to you.
When it comes to money, you don't have to be a financial guru to be smart. Investing can be simple and the earlier you start, the bigger difference it can make. Use compound interest towards your advantage!
Here is a good example that was from CNNMoney (link to article):
"To put the power of compounding on your side, you have to start early. Suppose there are two siblings who both invest in Individual Retirement Accounts earning 8 percent a year.
The sister starts at age 20, and for the next 10 years she stuffs $3,000 a year into her IRA. At age 30, though, she stops and never adds another penny.
Her brother waits until age 30 to get started, but then dutifully salts away $3,000 a year for the rest of his life. Which sibling do you think will be better off?
In this case, the early bird will always be ahead. The sister reaches age 65 with over $642,000, while her brother will have a little under $518,000 - about 20 percent less."
