Investing requires a measure of time and confidence, which you might not have. If you don’t have the time, interest or comfort level to manage your own retirement portfolio, Paul Jacobs, a certified financial planner and chief investment officer at Palisades Hudson Financial Group in Atlanta, suggests target date funds as a useful destination for some or all of your retirement assets.
“Target date funds manage very diversified portfolios of stocks and bonds, and gradually reduce the risk inside their portfolios before and after retirement,” he said.
Although these funds offer a simple investment solution by automatically resetting your mix of stocks and bonds, Jacobs doesn’t recommend an entirely hands-off approach. He encourages working with a financial advisor if you need to adjust your strategy.
“It’s still important to understand your target date fund’s strategy, and how it’s being invested,” Jacobs said. “Different fund companies have very different approaches to managing target date funds, and your fund may have more exposure to risky investments than you’d prefer. In addition, target date funds use a one-size-fits-all approach, which may not be appropriate for everyone.”
Since COVID-19’s spread across the globe has been declared a worldwide pandemic in March of…
One way or another, you’ve probably come across free samples in your consumer life. Historically,…
Cutting costs is a challenge many Americans have to face on a monthly, even weekly…
Old-School Tips and Tricks Your grandparents lived in some difficult times and probably became experts…
You might want to check out your old baseball cards or sift through those boxes…
You know that pouring yourself a hot cup of tea, listening to your favorite low-key…