Joey Mustain

If you’re going on a long car trip this summer, you can rely on your smartphone’s GPS to help you reach your destination. And to help reach your financial goals, you might want to look at your investment strategy as a similar kind of navigation system.

Like a smartphone’s GPS, a well-constructed investment strategy can help plot out your route. For example, if you plan to retire at a certain age, your investment strategy helps guide you on how much you need to invest, and what investments to pursue.

Also, just as a GPS will redirect you if you deviate from the route you’ve been given, you may need to make some adjustments if you depart from your investment strategy in some way, such as taking on too much risk.

Of course, it’s simple to program your GPS. But when creating a personalized investment strategy, you need to consider all your goals – college for your children, a comfortable retirement, the ability to leave the legacy you want, and so on.

In any case, like your GPS, your investment strategy can help guide you – so make good use of it.

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