Aug 01

Developing an Investment Plan

Know where you want to go, that’s one thing. But the image of how it is another. In the current context, with an investment plan is essential. It keeps you on track, disciplined and focused on your investment goals.
Part of a successful investment plan includes:

Identify and prioritize your goals
These can include entrepreneurial initiatives, education, home purchase or retirement.
Determine your time horizon
Each objective has usually a specific timetable for when money is needed. Conservative investments complement short time horizons, while shares for more long-term goals (more than 10 years).
Determine your risk tolerance
Define your comfort level with risk, the combination of cash, bonds and equities, which is good for your wallet to be determined.
Understanding of investments in your portfolio
Knowing what you currently own, you can determine if you make adjustments to achieve your long term goals.
Determine where to invest next to
Once you have built a solid foundation for your portfolio, you can work with your advisor to understand how trends and market developments, events can make your investment decisions.