SLOW AND STEADY WINS THE RACE
By Lou Gershman
When it comes to your investment portfolio, the story of the tortoise and the hare comes to mind; “slow and steady wins the race”. This philosophy really does hold true for investing. Rather than making frequent adjustments to your portfolio – or worse – trying to time the market, an early start and consistent long-term investing seem to pay off in the long-run.
The power of time and compounding help take remove some of the worry out of investing. Additionally, a well-diversified and balanced portfolio can help reduce the volatility of your investments – and therefore lower worry anxiety.
Investing towards for your retirement should be considered resemble a marathon – not a sprint. Your strategy for crossing the retirement goal finish line should invoke enough be to have the patience, perseverance, and fortitude to stay the distance course and to run the long race. A consistent, long-term investing approach helps reduce your risk, while providing steady growth.
It would be nice to just leave your investments untouched and on autopilot for 40 years of contributions, and to then wake up to and find your investments have built up grown to your desired retirement goal. Unfortunately, the modern markets is are not unconducive to autopilot apply such a complacent and simplistic approach management. When turbulence hits,– even the most seasoned pilots disable their take their planes off autopilot and apply their training, skills, and experience to weather through a navigate through and around storms safely.
So, ask yourself this: When traveling by plane, would you rather pilot the aircraft yourself? Would you rather try self-flying (and landing) an airplane – or would you rather trust a professional pilot? Not only is he or she there with you in control at take-off – but they also stay with you throughout the entire flight – to include a safe landing at your final destination.
That’s where your trusted financial advisor can come in and provide maximum value. He or she is They are there with you when you first open your investment account, stay work with you through your entire financial journey, and help you cross that finish line – the ultimate financial destination that which we call retirement.
Just remember – slow and steady wins the race, and your advisor is your coach throughout your financial marathon.
Ready, set, GO!!!