Going for the [Financial] Goal
Many people know there’s a big football game ahead this weekend. Are you ready to enjoy it with all the friends and food that may be tradition? Just like you’ll be cheering your team on to go for the goal; you can also treat your investments like you’re going for the goal!
To develop your strategy for the goal you’re trying to reach you’ve got to set the goal. Once you’ve identified what it is now you can set a path to reach it. As an example you can see how we described various time horizons for goals. Depending on what the goal is and how far away in the future you will want to invest for each differently.
Especially with the current investment environment we have, it’s important to be clear on time horizon. Current outstanding issues like global trade, interest rates, and corporate earnings are going to provide direction as each issue keeps progressing. The government is open again with much work to avoid any further shutdown happening. The Fed provided a little breathing room this week when they noted that they will be patient with decisions for further rate hikes.
Because these issues change their status on a weekly basis you have to invest with your goal in mind. If you are investing appropriately then you should experience less anxiety over the status of the market. Short term goals would be invested in a more conservative way and long term goals allow time for the market to run its course over time.
Your team will only have a matter of hours to show if they’ve reached their goal. You have a lifetime or matter of years to show if you were able to accomplish all you set out to. Don’t feel like it’s too late if you need to get started. Starting sooner rather than later allows for more time on your clock.
Wondering how this affects your investments? Schedule a call with Michelle and Steve to discuss your portfolio today.