Setting investment goals is like entering your destination into your car’s GPS – the more specific you are, the easier it will be to get where you’re going. Solid investment goals generally have the following things in common:
Nothing will derail an investment strategy faster than having unachievable goals. If you’re 40 years old and can only afford to invest $100/month, setting a goal to save $1 million by the time you retire is inevitably going to lead to disillusionment. Be realistic and either lower your goals (you can always increase them later as your financial circumstances change) or increase your savings rate.
5 Most Common Investing Goals
Learn about the global economic backdrop, our view on global stock and bond markets, and recommendations for major investment asset class combinations in your portfolio.
Calculating annual required minimum distributions (RMDs) can be complex and mistakes can be exceedingly costly, so it’s important to consider an optimal withdrawal strategy.
As you transition to retirement, five additional risks emerge (in addition to market risk). Each of these, if not adequately planned for and managed, could result in outliving your savings.
Faced with the potential to live 30+ years in retirement, the traditional approach to retirement income may no longer make sense.
By using automated billing and payment systems, companies can drastically reduce their exposure to fraud-prone paper transactions.
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