While managing risk is always an essential part of any ATT employee’s investment strategy, here are a few other key tips to be aware of as the building blocks for a wealth accumulation strategy:
- Take a high-level approach to your investments.
Employing a broad stroke effect on large market swings or panicking with the increase of interest rates is definitely not the way to approach a consistent strategy. The preference nowadays is to take a more high-level approach to wealth management by looking at the big picture. You can’t time the market, but you can look at the historical data on returns to determine the aggressiveness and depth on how to approach each market segment.
- Understand what you want out of your investment. If you are closing in on retirement, more conservative investments like money markets should be considered because of their lower volatility, but they often offer very small returns on your investment. The farther you are away from retirement the higher the risk you should consider. With a long-term strategy, higher risk can offer higher return potential but also higher volatility.
In the end, the best advice you’ll ever receive is to discuss your investment strategy with your financial advisor. We invite you to visit us at mooneylyons.com. As well-qualified CERTIFIED FINANCIAL PLANNER™, Mooney Lyons can help you achieve a good balance between your retirement goals and your financial responsibilities.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Stock investing involves risk including loss of principal. No strategy assures success or protects against loss.