5 Investing Resolutions for 2015
Bring your investing and retirement planning to the next level in 2015
It’s also important to remember tax season is around the corner. Therefore, now is also a great time to review your investments and your saving and spending behaviors.
Next, you can determine resolutions that may be right for your financial situation.
As you plan your 2015 resolutions, here are five tips to consider that may help you enhance your investing and retirement planning strategies.
1. Give your portfolio a tuneup. Now is a great time to review portfolio holdings and performance, and to determine how to maintain an investing strategy to help reach your goals. Take a look at your investments. Does your portfolio align with your risk tolerance? You can find online tools through brokerages to help you understand your portfolio’s gains and losses. Investors can create a diversified portfolio, with up to eight exchange-traded funds, or ETFs, for example. Using dollar-based investing, you can streamline the asset allocation process.
2. Maximize retirement contributions. According to ShareBuilder's Financial Freedom Survey, released in March, which conducted 1,008 interviews of adults 18 and older from Feb. 13 to Feb. 16., 57 percent of working Americans are concerned they won’t save enough money in time for retirement. By taking advantage of your employer’s retirement plan, you can work toward growing your retirement nest egg.
3. Think about putting that holiday bonus to work. Examine your personal financial situation, and determine how you can best use the additional funds from a work bonus or holiday gifts. You may want to consider starting an investment portfolio, building an emergency fund or using that money to help a reach milestone like a down payment for a car or home.
4. Set attainable goals that may help you feel good about your progress. Committing to a budget and making regular investments is similar to establishing other habits, such as working out or eating right. The more you do it, the easier it may become. Most people receive quarterly statements that update them on their retirement accounts, making it easy to check in on their progress a few times a year.
5. Consider exploring international markets. When determining if international exposure is right for you, make sure you have a well-rounded portfolio with investments that match your financial needs and goals. Various apps and online tools may help investors educate themselves about international investing and offer insight on everything from broad country exchanges to stock-specific data.
These steps may help you make headway toward reaching your investing goals in 2015. Remember, it is never too early or too late to get started planning for your financial future. And although those first steps may seem daunting, there are many quality tools and resources that may help you along the way.
Read the full article at: money.usnews.com
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
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