How to Plan Investing According to Your Goals in Life?
In order to create consistent success with your investing, you need to be clear about what you are doing: the risks you are taking, and what potential rewards they bring. Using your age and risk tolerance, your FORTAX Financial Advisor can help you develop investing timelines and financial projections.
If your goal is creating wealth for retirement, which is 30 years from now, you will have lots of time for your money to grow despite any future market cycles. You can also tolerate more risk, due to your age and your long investing horizon.
However, if retirement looms, you will need a more conservative approach to protect your money. Because you don’t have the time available to ride out an economic downturn.
Strive to create a well diversified portfolio with investments in different asset classes. But also factor in the management fees and tax implications when devising your strategy.