When you invest, you will experience declines in the financial markets. But the longer you hold your investments, the less impact these drops can have on your portfolio. So take some steps to become a long-term investor.
First, only invest money you won’t need for a long time. This will help you overlook the inevitable down periods in the market.
Also, keep your focus on what matters most to you. For example, if you want to travel extensively when you retire, keep thinking about what that might look like. By doing so, you’ll find it easier to keep working toward your goals.
Finally, don’t spend too much time examining short-term results in your investment statements. Instead, look at some of the report’s longer-term trends, such as the possible increase in the number of investment shares you own. The deeper you dig into your statement, the more motivation you may find to keep on the long-term track.
It will take discipline to invest for the long term – but it’s worth the effort.
If you have any questions please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.