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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
May/June 2021
Consistency Is Key for Retirement Investors
Slow and steady like the tortoise or fast and furious like the hare? Which investing approach do you think offers the best chance of saving enough for a comfortable retirement? For a long-term investor, being a tortoise has its advantages.
The Hare Investor
Remember the hare in the fable? He thought he could make it to the finish line with time to spare even though he started the race late. Hare investors tend to follow his lead. Instead of starting to invest when they begin working, they wait until they’re established in their careers and earning higher wages before they set money aside for retirement. But, by not starting early they could be sacrificing years of potential growth. To compensate, hare investors may have to contribute much more to their retirement accounts to make up for their late start.The Tortoise Investor
Like the tortoise in the fable, tortoise investors don’t wait. They start contributing to a retirement account as soon as they’re receiving a paycheck — and keep contributing steadily throughout their working years. By starting early and reaping the benefits of compounding (earning interest on interest), tortoise investors may have to contribute less of their own money to achieve their savings goals.Want to Be a Tortoise?
Start by adding money to an investment account as soon as you begin working. Consider setting your savings on autopilot by earmarking money from each paycheck to go into your account. You may want to increase your contribution amount whenever you get a raise. But the important thing is to keep contributing.Tips for Tortoises
What else can you do to be a smart investor? Choose an investment mix that reflects your risk tolerance and time frame. And, by adopting a buy-and-hold strategy, you may avoid fees, commissions and taxes that can lower your returns.Ask your financial professional for guidance in creating a diversified* portfolio that may help cushion market swings.
* Diversification cannot eliminate risk of investment losses. Past performance won’t guarantee future results. An investment in stocks or mutual funds can result in a loss of principal.
GE-3453905(2/21)(Exp.2/23)
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GE-4833845.1 (7/22)(Exp. 7/24)
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