One of the most common questions I receive is something like, “if you had a crystal ball, what do you think is going to happen over the next year?”
I do not know and nobody else does either. Trying to make short-term predictions is a fool’s game. You might correctly guess a few times. However, getting it wrong just one time could derail your financial plan forever.
Do you believe the markets will not only be higher but substantially higher a decade from now? If so, stay invested for the long-term!
- Make sure you have an emergency fund (6 months of expenses). Never invest your emergency fund.
- Keep 5 years’ worth of portfolio income needs in fixed-income investments. For example, if you need $1,000/month from your portfolio, keep at least $60,000 in fixed-income investments.
Information in this material is for general information only and not intended as investment, tax or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.
10 Actions To Take 10 Years Before Retirement
In this paper we discuss 10 actions you should take to develop and deploy a successful long-term wealth plan. It will help you make decisions about your financial journey today and well into your retirement chapter.