Here are four tips to help you manage your investments well over time:
- Choose your investments based on when you expect to need the money. Different investment funds are designed to meet different timing needs.
- Invest your money in a variety ofasset classes (such as equity funds, bond funds and money market funds) and a variety of asset classes (such as financials, healthcare and technology). This is called diversifying your portfolio and can soften the impact of any major changes in the market.
- If you need to withdraw money earlier than planned, take it from an investment that does not give a penalty for early withdrawal.
- Review your investments regularly, especially if you experience a major life change, and make adjustments that reflect your changing life goals.
If you need assistance applying these tips to your situation, speak to a financial advisor.
