Entering a New Life Stage
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Entering a New Life Stage
Not every life event means change for every investor’s portfolio. But we all should re-evaluate investment goals and risk levels after we pass into a new life stage. For example, there’s marriage. The dream of sharing your life with another person has become a reality. You then fantasize about buying a home together and about spending your golden years in side-by-side rockers. But those rockers will cost you. So will that home.
Things To Know
- Re-evaluate investment goals and risk levels after you pass into a new life stage.
Now you’re investing for two ... or more
You and your spouse need an investment plan that takes both of you into account. If you thought that planning for one person was tough, imagine planning for two. Perhaps you’ve finally gotten a handle on that investing-for-two idea and, lo and behold, there are three—or more—of you. Saving for college turns into an obsession before the kid can even crawl. Then you feel the need to strike a better balance between work and motherhood. And before you know it, your daughter asks for $50 to go to the mall.
In any of these examples, you need to step back to get your arms around your altered financial situation. Re-examine your money needs and goals, and readjust your investments accordingly.