Investment Advice

What to keep in mind when it comes to investing

There are many financial terms out there, and some you might be more familiar with than others—from “budget” to “savings account” to “401(k).” When approaching the world of finances and building your financial plan, it can seem like there’s a lot to take in. And some of these terms, you’ll find, incorporate more details than others.

If you’re considering the aspects of one of these words in particular—investment—then you’re clearly thinking about your future.

But like anything, there’s a great deal of chatter and misconception about what makes a good or bad investment, and the right way to go about investing. The truth is that investing your money is as unique as the rest of your lifestyle, and the only way to go about doing it is the way that makes the most sense for you and your financial situation.

It is for you

Your financial situation, just like your life, is unique. You have your own interests and your own plans for the future, and your investments should not only help you reach the future you envision, but they should align with these interests as well.

The point is not only to grow your wealth, but reach your goals. After all, while these tend to go hand in hand, they’re not the same. Investing properly should help you achieve both. But with so many options when it comes to investing in your future, it can be tricky to know where to start. Thankfully, there’s help to guide you through the process so you can be confident your strategy is working, while also staying focused on those things that matter most.

What will $150,000 be worth in 20 years?

At the annual rate of return of 0.05%, your savings will be worth $151,507 in 20 years. At the annual rate of return of 2.00% $150,000 is worth $223,699. At 5.00%, your savings total jumps to $406,896. That’s quite a difference. A good financial advisor will customize your portfolio to account for your goals and personal risk tolerance. The higher the return, generally the higher the risk. Try the “How much will my savings be worth?” calculator to see the impact of other annual rates of return and how other factors like regular deposits add up over time.

Turn to partners who have your back

When it comes to planning for your financial future, you don’t want to lose track of what is important—your goals. No matter what future goals you may have, those should be first and foremost in your planning process. The professionals will help you implement a strategy to reach them.

Having a long-term investment plan in place means more than shifting money around. It means establishing strategies, finding the appropriate avenues that make sense for you, and laying the groundwork toward your financial future.

And like your budget and your overall financial plan, these strategies might shift. This is just fine. Changes will come up in your life; adapting to them is the only way to move forward. One benefit of having investment management partners in your corner is that these shifts can be planned for and adjusted with ease.

Another resource is investor.gov, the U.S. Securities and Exchange Commission. There, you’ll find helpful guidance such as red flags for fraud, along with some financial planning tools.

Be real

Having open and honest discussions with a team of investment professionals will help them identify the best approach that fits with your lifestyle. The professionals know the ins and outs of various investment strategies and the best financial vehicles. Since there’s no one-size-fits-all approach to investing, they’ll help you navigate and build a personal strategy.

Here are some examples of ways that investment management services can help you:

• Investment portfolio review
• Investment advisory services for individuals
• Brokerage solutions (full-service, self-directed, discount and online)

Technology and insights

Find the right team to help you with your investments. Investment partners typically use the latest technology, so that you can have multiple accounts under the same review and management. This is crucial, allowing you to diversify your investment strategy, but still have easy access and control capabilities.

Additionally, just like the strategy itself, your investment management team will work in the way that suits you best. For instance, if you’re the type of person who wants to do your own research and come up with a list of stocks or investments on your own, your team will hear you out and consider your approach. They likely even have insights of their own pertaining to these choices.

On the other hand, if you want the professionals to devise something on your behalf, freeing you up to focus on other aspects of your life, that can be done as well. The idea is to find the right balance of strategy and services that you are comfortable with, and then move forward with that plan.

Limit the risk

Investing comes with a degree of risk, which is no secret. However, you can limit your risk by seeking the advice and assistance of advisory, brokerage and management services. After all, when working toward your https://www.associatedbank.com/wealth-management/individuals-and-family/goal-based-financial-planning, why not do so with as few hurdles as possible?

Set yourself up for success by letting your investment management team make this journey as simple and efficient as possible.

Reach out today to get started by calling 800-236-0335.