• clarkhoward.com - Clark's investing guide

You may have heard that retailers had a lousy Christmas last year, especially those in the clothing market. Consumers were all about electronics this holiday season, and that includes women and men. Digital cameras, televisions and HDTVs were the popular picks for everyone. Add to that the fact that it’s been a pretty mild winter, which keeps people from buying the warm clothing they normally would. The upside to this news is that retailers will have fantastic deals on clothing in the next few weeks. In fact, “past season” or winter clothing is going to be extra cheap, so you can stock up for next winter. Retailers are basically dying to get rid of this inventory to make room for the spring and summer clothes. The only retailers that had a good Christmas were Costco Wholesale, Neiman Marcus, Saks Fifth Avenue and Guess. So, you won’t find the deals at those places. But nearly everywhere else you go will be a steal. In addition, home heating bills will be low.

Clark subscribes to a number of financial publications that he reads religiously just about every day. Unfortunately, every year around this time financial magazines contain obnoxious ads about how to earn instant wealth and success. Most of them are about stock picks and other options like gold and oil that sound exciting but really are poison for your wallet. Smart Money and Money, for example, both have content about becoming a millionaire in the new year. If you allow yourself to be influenced by people who are considered “great minds” in economics you could still lose. The rules of making money are simple. First, you need to save more and spend less. Secondly, pay yourself first. That means invest in your 401k plan at work and contribute money – preferably 15 percent – before you can spend it. If you don’t have access to a 401k, you can invest in a SEP (up to $44,000 per year) or a self-employed 401k if you are the only person in the company. When investing, think for the longer term. And think globally. America’s share is dwindling, and you want to think about putting money into an international fund when choosing 401k options. Clark suggests you put 25 percent or more into international funds. Even if you’ve never traveled overseas, let your money take a trip.