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Own Your Financial Freedom by Andrea Kennedy

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CHAPTER 6

TIME, GOAL SETTINGAND RETIREMENTPLANNING

 

 

 

 

 

 

 

 

Actual goal setting and strategic investment planning are the least appreciated and most disregarded parts of investing, most egregiously by a hyper sales-oriented financial services industry. As a result, beginner investors either err in being too tactical or in having no real long-term goal or plan.

Tactically oriented investors want to dive into investing by focusing on one-off investment ideas, such as “I need a couple of good stock picks or funds” or “I want to get in on gold when it falls 10%.” This is the equivalent of saying you will plan a three-week holiday but then only choose which spa treatments you want. Alternatively, clients who are unaware of how to properly ...

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