Transcript: WellsTrade Changing Goals
Because as priorities and goals change throughout your life - so should your investment strategy.
When you begin investing - you might be saving for any number of reasons from a down payment on your first home to a college fund. But you should also begin to put away as much of your income as you can comfortably afford towards retirement, including contributions to an employer-sponsored retirement plan.
As you get into your peak earning years, you'll want to increase the amount you are investing for retirement,as well as consider using multiple investment avenues to diversify your portfolio. And when you can see retirement on the horizon, you should be concerned with preserving assets as well as growing them.
A good rule of thumb is that every five years or when you experience a major life event -take a long look at your overall investing strategy and make it sure it still aligns with your goals.
And if it doesn't, take it off the shelf, dust it off and make some changes. And if it doesn't, take it off the shelf, dust it off and make some changes.