I'm relatively young so I'm taking a long-term view of my investment strategies. Because of this, I am trying to minimize my fees and taxes as I invest in very diversified index and mutual funds. I'm basically betting that the overall markets will rise over the next few decades.

I try not to watch investment advice programs on cable television, but I found myself on a treadmill at the gym watching MSNBC's Millionaires program. There were four millionaires giving advice about what we should invest in. They all decided we should invest in what made them rich. So the business owner wants us to start a business, the real estate mogul wants us to buy property, the stock investor wants us to find stocks of good companies and buy them when they are on sale.

I thought all of their advice seemed difficult to accept because most people are not successful as they were. Most people fail when they try to start a business. Most people lose more money than they make when they try to pick hot stocks.

I turned off the program wanting to do better with my investment decisions, but confused as to what I should do.

I don't like real estate because I'm n ot a big fan of doing the chores associated with property management. I had to install a new toilet in my own home yesterday and that was after procrastinating for months before I bought the new toilet. I don't want to pay a handyman or property mangement company to take care of my investment properties (higher costs equal lower returns) so I have decided not to be involved with real estate investments other than my own home and owning stocks of professional real estate companies.

I like the idea of owning my own business, but it is hard to do and involves a certain amount of risk. I'm trying to start a few internet companies, but the internet is fairly immature with economic models that need to grow. I'll keep working on my internet companies, but I need to get some returns before I can no longer afford to keep them online.

I also like the idea of picking some "hot" stocks, but this is always a big gamble. Most people lose this game unless they are picking stocks with someone else's money. Maybe I should get a job with a hedge fund or investment firm instead of trying to pick stocks with my own money?

Overall, I think I am on the right track. I'm diversified in my investments. I've started a few online businesses. I have a general understanding of the stock market and investing. Maybe the best advice to myself is to not take cable financial programs too seriously.