Now that the COVID-19 pandemic has subsided somewhat, people are feeling more free to travel. But while it’s nice for you to take a vacation, you won’t want your investments to do the same. How can you keep them working on your behalf?
First, invest consistently. If you only dabble in investing, occasionally putting some money into one investment or another, it will be difficult to build a portfolio that’s consistently working in your best interest.
Also, you need to own enough of the types of investments that can provide the growth you need to reach your long-term goals. And make sure you’re getting the most out of these investments. For example, your 401(k) and IRA are designed for your retirement – so try to avoid tapping into them early.
Finally, review your investment portfolio at least once a year to make sure it’s still performing the way you intend. If it’s not helping you make the progress you need to achieve your objectives, you may want to make some changes.
If you’re traveling this summer, relax, take in the sights and enjoy yourself – but keep those investments working hard.
About the Author
Laura Nash is a financial advisor with Edward Jones, based in Rockville, MD. Reach out to her at 301-881-3034.