* Use low-cost index funds and ETFs. Instead of investing in actively managed mutual funds with high fees, opt for low-cost index funds or exchange-traded funds (ETFs) that track the market. Index funds and ETFs have expense ratios of 0.1% to 0.2%, while actively managed mutual funds typically have expense ratios of 1% to 2%.

* Invest in a diversified portfolio. Don't put all your eggs in one basket. Instead, diversify your portfolio across different asset classes, such as stocks, bonds, and real estate. This will help you reduce your risk of losing money if one particular asset class performs poorly.

* Rebalance your portfolio regularly. As your investment goals and risk tolerance change over time, you'll need to rebalance your portfolio accordingly. This means selling some of your investments that have performed well and buying more of your investments that have performed poorly. Rebalancing will help you keep your portfolio on track and reduce your risk of losing money.

* Invest for the long term. Don't try to time the market. Instead, invest for the long term and stay the course even when the market is volatile. Over the long term, the stock market has always outperformed other investment options, such as bonds and cash.

* Get help from a financial advisor. If you're not sure how to build a diversified investment portfolio or you need help with other financial planning matters, consider getting help from a financial advisor. A financial advisor can help you create an investment plan that meets your specific goals and risk tolerance.

By following these tips, you can reduce the cost of your modern investment strategies and improve your chances of achieving your financial goals.