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Portfolios 201: How to Juggle Different Investment Goals

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1.
What are some benefits of mapping out your investment goals?
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All of the above. All of these are benefits, though not everyone may need to make the tradeoffs.
2.
A danger of becoming a "collector" of investments rather than a holder of a real portfolio is that _______.
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You could lose sight of your investment goals. Many collectors inevitably buy investments for the wrong reasons, especially after years of doing so.
3.
If you have three financial goals, how many portfolios should you probably have?
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Three. Most of the time, you'll need a different portfolio for each financial goal. If two goals share the same time horizon--say you plan to send your twins to college in 10 years--one portfolio may be able to fund both goals.
4.
Which statement is true?
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You may have more portfolios than you have investments. Depending on how many goals you have, you may have more portfolios than you have investments. That's fine.
5.
In order to prevent yourself from becoming just a collector of investments, what should you do?
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Make sure that your goals are the driving forces behind your investments. No matter how many investments you have, you should make your goals the driving force behind them.