Investment planning
Investing is an important step in creating your financial plan. A financial advisor can show you some common techniques to help you build a personal investment plan.
Identify your goals
Before you begin considering how and where to invest your money, it's important to identify and prioritize your wealth accumulation goals.
- What does investment planning mean to you?
- What dreams are you saving for (retirement, a home, education)?
- How have you approached issues like risk tolerance and diversification?
Plan to succeed
More than ever before, your financial success depends on you. Working with a financial advisor can help you understand how to become a better investor and build your retirement savings. An advisor can help you:
- Assess your financial situation. Create a clear picture of your current financial situation.
- Understand diversification. Spread out your investments over several types of "asset classes" to reduce risk.
- Allocate your funds. Asset allocation is about devoting a percentage of your assets to stocks, bonds or other products as a class.
- Monitor your progress. Revisit your allocation regularly to make sure it's consistent with your current needs.
- Consider tax implications. Be aware of tax advantages or paying any unnecessary fees.
Keep your investments on track
Your dreams will change. Your tolerance for market risk may change. That's why it's important that your financial plan is adjusted as necessary. An Ameriprise financial advisor can help you revisit your investment strategy to help you make sure it stays in line with your long-term financial goals.
Diversification helps you spread risk throughout your portfolio, so investments that do poorly may be balanced by others that do relatively better. Diversification and asset allocation are not guarantees of overall portfolio profit and do not protect against loss in declining markets.
Neither Ameriprise Financial nor its representatives or affiliates may provide tax or legal advice. Consult with your tax advisor or attorney regarding specific issues.
