Join Jane Barratt for an in-depth discussion in this video Goals, part of Personal Investing Basics.
- Setting goals is a vital step for every investor,…but when I hear investment companies ask,…"What's your retirement number?",…I cringe.…"How much do you need to retire?", they ask.…My answer is, "As much as humanly possible".…But in my mind, they're asking the wrong question.…You should never set a target until you…take a good look at who you are and what your needs are.…Once you do that, you're going to learn…what kind of investments you should make,…and how much risk you should take on.…Only then can you begin to set goals.…So let's look at you, and begin…with your investment objectives.…
Objectives may sound like the same thing as goals,…but they're slightly different.…Your objectives should be a general idea…of what you want to get out of your investments.…Do you want to generate income that…you can use to live off?…Do you want to grow your savings base for later?…Or, do you want to grow as quickly…and as much as you can?…Or, do you want to make sure you don't…lose any money in your investments?…These general objectives will guide…
Jane is the founder of GoldBean, an online investing platform that helps first-time and experienced investors alike take their investments into their own hands. In this course, she shares her investment strategies with you. She breaks down the market into its five basic building blocks—cash and equivalents, stocks, bonds, funds, and insurance products—and the different vehicles where you can invest these building blocks. She also covers topics such as the importance of a balanced portfolio, understanding and managing your risk, identifying value in the market, and building your "money muscles" over time. Plus, learn how to calculate the rate of return of a portfolio vs. general market performance. Last, Jane outlines the options for DIY investing, when it makes sense to work with an advisor, and how to avoid costly investment fees.
- Why should you invest?
- Understanding compound interest
- Comparing stocks, bonds, and funds
- Managing risk
- Building a portfolio
- Finding where to invest money
- Working with a financial advisor