The trap: Speculating, not investing – picking and choosing rather than following a clear strategy
The solution: Have a balanced financial plan that addresses your unique needs
Taking control of your finances is an empowering task that everyone is capable of. With a calm and level-headed approach to financial planning, you are able to prepare for your future without worrying about the daily fluctuations of the markets. No one can predict for certain how the markets will behave tomorrow, or next month, or next year, but there’s no need for a crystal ball when you have a clear investing road map.
Stick to a thoughtful, informed plan that supports your long-term objectives. A good investor is a calm and patient investor – the markets can be dramatic, and there will inevitably be some losses along the way as well as gains. Planning now means that you’re on track for the future, and you can weather those ups and downs. So step back, take a deep breath, and keep your eye on the horizon. A secure financial future is well within your sights.
Every one of us has different needs for making our unique goals happen, so these important questions should guide you in creating your investment plan and your asset allocation.
- What kind of lifestyle do you envision for yourself?
- What would you need to fund that vision?
- What milestones do you want to achieve, and how do they translate into expenses you’ll need to anticipate?
