10 Rules for Building Wealth, Part 4: Don't Try to Beat the Market

Here's part 4 of a Money magazine series on 10 rules for building wealth that I'll be covering over the next few days. Today their suggestion is to not try to beat the market. The details:

Even the best fund managers have trouble beating the S&P 500, so give up the chase. The most straightforward way to avoid this trap is to diversify your assets and then rebalance your portfolio at least once a year.

Again, another endorsement for index funds. And if you want more details on rebalancing, check out What is Investment Rebalancing and Why You Need to Do It.