How to invest successfully
1) Know your time horizon. How long can you afford to have your money tied up? Is it five years to buy a house, 20 years for retirement, or next week for an emergency?
2) Know your risk tolerance. How much can you afford to risk? If you can’t stand to see a minus sign on your investment statement, the answer is likely to be not very much.
3) What’s your budget? What can you afford to invest for a later date, whether that’s through monthly payroll deductions or periodic deposits?
4) What do you know? How much education do you have about money matters and investing? Do you know the difference between a Roth IRA and a regular IRA?
5) Are you ready to put your plan in place? Do it.
6) Do you know where you’re headed? Make sure to schedule an annual review with your financial planner to find out if you should make investment changes.
Schlabach can educate you about your options and get you on the right track. A simple call to set up an appointment is all that’s necessary to put a plan in place.
Dave Schlabach Financial Services is located in the Hummel Insurance building, at 4585 State Route 39, in Berlin. Securities offered through The O.N. Equity Sales Company Member FINRA/SIPC. The phone number is 330-893-1900. Visit the website at www.DaveSchlabach.com, and like him on Facebook at Dave Schlabach Financial Services.