Successful Investing (Part 2)

Once we have something to invest, what do we do?

The second principle of successful investing is to have a goal for your investments. While this may seem obvious—after all, we invest to make money—it’s not always clear what kind of money we want to make.

Income? Before or after taxes? Capital appreciation? Some combination? Usually, we need to have a goal for the money. Then we can plan our investments to meet that goal. So, for example, if you’re 30-something and saving for retirement in a 401(k), you probably want the greatest total return you can get, and you can handle some volatility. The older we get, the less risk most investors take.

It’s been said that if you don’t have a target, you’ll hit it every time. Having a goal and a plan to meet that goal is the next step to investing success.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2014-09-03T20:43:19+00:00 August 6th, 2008|Global Market Update|0 Comments

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