Just like Baskin-Robbins has 31 flavors of ice cream, financial companies also offer a wide array of ways to invest - some which are more cost effective and have lower fees than others.

Over the years, I've tried multiple strategies to enhance my investment returns. I attempted market timing, trading specific stocks which had "hot products" and I'll certainly never forget my "wagers" on penny stocks.

Chasing returns was never particularly successful for me, and some time ago, I adopted the "KISS" (keep it simple Sherlock) principle. While still considering asset allocation relative to my percentage of stocks, bonds, cash and  market sectors, I now avoid emotional investing, particularly as I am often unable to explain, much less control the rise and fall of stock prices.

I now purchase a few indexed funds which provide great diversity in various market sectors. Best of all, the costs/fees associated with  them is minimal. Fees on some investments can vary significantly over time and can greatly alter your total return.

On a monthly basis, I invest in each, these being a part of my retirement account. With the power of compounding, and the ability of these funds to grow in a tax-deferred setting until retirement and redemption, they should add up to be a "pretty penny."

As you contemplate your financial future, keep these things in mind:

• Start early
• Save regularly in a tax-deferred vehicle
• Utilize low-cost funds

Last, but not least, find a good financial advisor who can help you make the most of your hard-earned dollars.