Define your investment goals: short, medium or long term
Your objectives may be many and varied.
Perhaps you’d like to:
- save for a trip you’d like to take 2 years from now
- save for your children’s education
- get ready to retire 10 to 15 years from now
- …be rich one day?
Whatever your project, no single investment strategy applies to all investors. A lot also depends on which life stage you are in.
When should I review my investment strategy?
Review your investment strategy at least once a year. If, in the meantime, however, your circumstances change drastically, such as if you come into some unexpected money, go through a separation or divorce, or learn you’re expecting a child, to name only a few, you should also carefully review your investment strategy.
Did you know?
When it comes to investing, time is money. It’s important to start investing young, even if retirement seems light years away. Even $10 a week will turn into a considerable amount if you start saving it when you’re 18 or 20. The longer the money stays in a tax-sheltered investment, the greater capital you’ll have at retirement. Never forget that time is your ally.
Would you like to see just how much saving $10 a week can bring you 10, 20 and 30 years from now? When it comes to saving, time is money.