If you have an IRA, you've got the responsibility for managing it. Or perhaps you have a pension plan at work, like a Keogh, SEP-IRA, or 401(k), where you are allowed to make decisions as to how your share is invested. These retirement investments represent money that was set aside in the past, and although you may not be adding to them at present, you still must decide how best to invest the money that's already there.

To one degree or another, you will do a better job of making these decisions if you have a basic understanding of the investment markets. Even if you're still at the first two levels, you can use this time productively to build your understanding of investing principles by studying the lessons presented in the Level 3 and Level 4 columns. Then, when you have larger amounts to manage in the future, you won't need a crash course—your knowledge and confidence levels will be up to the task!

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