Four Tips To Build A Successful Portfolio
Four Tips To Build A Successful Portfolio Walking through the financial maze of stocks, bonds and mutual funds can be quite a challenge. American Century Investments offers the following tips to give you the know-how on building a profitable portfolio. * Know your goals: Consider how much money you’ll need for your children’s education or your retirement. Whatever your vision for the future might be, set your goals and develop a concrete plan for meeting them. * Define your investment time horizon: If you’re not planning on retiring anytime soon, you might want to have a portfolio that includes more long-term investments. If retirement is just around the corner, consider a more conservative approach. * Determine your risk tolerance: Figure out your risk comfort level and compare that with what you can afford. In general, the longer you have to invest, the bigger risk you can take. * Consult a professional: In order to avoid financial pitfalls later on, it is ...