The ThirdAge Retirement Troubleshooter |
| |
My whole portfolio has been in stocks and you know how the market has been.
Jeff says this is exactly why financial planners like to talk about diversification and asset allocation. If you have time, you might not need to worry so much. However, having all of your money in stocks exposes you to a great deal of risk.
You shouldn't make radical changes in your portfolio based on today's news, but you might need to adjust your portfolio. A successful plan requires constant monitoring of your investment objectives and performance.
It sounds like it's time to diversify and take a closer look at how you've allocated your assets. A financial advisor should help you take the long-term view with your investing strategy. The basis of financial planning is saving what you earn. The next step is maximizing those savings and earnings.
For a deeper understanding of asset allocation and diversification, visit the Discussions.
Or, check out some sites highlighted by the ThirdAge News article Check Your Investment Needs Online
SmartMoney Interactive also offers useful tools for understanding asset allocation.
|
