Financial Health

You’ll want to hang on to an investment as long as it meets your objectives. Is it likely to continue to perform as well as or better than comparable investments? Is it still appropriate for your age, risk tolerance and financial goals? Evaluating your investments once or twice a year will help you make that determination.

All investments come with some level of risk, and if you’re planning to invest your money, it’s important to be aware of how much volatility you can endure. Consider the following factors:

To get started, you’ll need to set lifestyle goals for your retirement. At what age do you see yourself retiring, and what would you like to do? You’ll need to account for basic living expenses (food, utilities, transportation, etc.), the cost of a mortgage you may still be paying off, or the cost of funding your child’s education, which may happen well into retirement. Finally, be realistic about how many years of retirement you’ll have to fund. With people living longer, your retirement could span 30 years or more.