Retirement seems like a long way away, but every bit of preparation now can help. As you work through your 40s, there are a few steps you can take to help build a strong long-term foundation.
Review your allocations. You’ll want to get slightly more conservative as you age, but you still have a long time horizon ahead. A general asset allocation strategy is to subtract your age from 110 and use the remainder as your portfolio percentage of equities.
Consider insurance. If something were to happen to you, would your loved ones be taken care of? We can discuss any strategies that could benefit you at our next meeting.
Draft a will. Again, though you’re young and in relatively good health, having a plan in place to prepare for the unexpected can help ensure your wishes are carried out.
And, a bonus health tip: Enlist your friends to stay active.
Turn exercise into a chance to socialize and stay accountable for your health. Try a new class, sign up and train for a 5K, or go for a hike. You may end up discovering a new hobby you love!
Here’s to a healthy and prosperous life!
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.