Putting your investing on autopilot is often a useful strategy when you are accumulating assets, but as you approach retirement, your portfolio could likely benefit from regular monitoring and these adjustments.
These items may not be appealing but can be beneficial when incorporated into your retirement plan. Even if you decide against using these strategies it would be prudent to explore their potential benefits.
The thought of investing in the stock market can seem intimidating but following a systematic process to begin or resume investing in the stock market can be a useful way to increase your equity exposure over time. The stock market exposes you to additional risks but when these risks are managed appropriately, it can provide you a greater chance of funding your long-term goals.
Attention is a scarce resource and competition is often fierce in investing space. The idea that investing is not meant to be exciting, and you should get “rich” slowly does not create mass appeal. This leads to trendy products being pedaled to the uneducated consumer audience. These products tend to be more expensive and less effective than a less flashy alternative.
By using either dietary or investing guidelines you can customize the framework to meet you where you are and develop patterns that will drive positive long-term results. Consistent good decisions, however small they may seem, can make a huge difference when compounded over a lifetime. Make every bite count, make every dollar count.
For many, investing can be seen as a “painful” experience, because you often expose a portion of your portfolio that experiences market volatility. When investing you must determine if the pain you are experiencing is indicating harm (damage) or is to be tolerated.
Everyone has to start somewhere, and there should not be any judgment placed on that person for not knowing “better.” They are likely doing the best they could with the resources they were given.
Risk presents itself in many forms and changes with time horizons. Balancing the type of risks you face is an art rather than a science.
Uncertainty of the future will always be present and optimism may become scarce. Prepare for these times, but have faith that a better future will prevail.
Events and circumstances will change. But fear, uncertainty, and doubt can always be found when investing. How you deal with it is the key.