Time: A key element of Investing
Edward Jones - Chad Choate, AAMS
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Dec 20, 2023
Florida - Sarasota, Bradenton & Charlotte Counties
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Who knows where the time goes? We’ve reached the end of
another year, so it’s appropriate to reflect on the nature of time and
how it affects us. And time certainly is a key element in the pursuit of your
financial goals.
As an investor, time can
be your greatest ally. If you hold some investments for the long term, you
could achieve an impressive cumulative growth in value. Furthermore, if you
keep adding shares to these investments, possibly through a dividend
reinvestment plan, you could attain “growth on growth” through the power of
compounding. Of course, when you own equity investments, you will experience market
fluctuations, but in general, the longer you hold these investments, the more
you can reduce the effects of market volatility.
But you also need to consider aspects
of time in these contexts:
• Checking
progress on achieving goals – When you establish a goal, such as saving for
a child’s education or your own retirement, you know the end date of when you’ll
need the money, but it’s also important to mark your progress along the way. So,
each year, see how far along you are in meeting your goal. If you’re falling
behind, you may need to adjust your investment mix.
• Choosing an
appropriate strategy – The time needed to achieve a goal should drive your
investment strategy for that goal. For example, when you are saving for a retirement
that won’t happen for three or four decades, you will need to invest for growth
by placing a reasonable percentage of equities and equity-based investments in
your portfolio, based on your comfort with the various types of risk, including
interest rate risk, credit risk and market risk. You will experience some bumps
along the way — keep in mind that the value of investments will fluctuate and
the loss of some or all principal is possible — but you likely have time
to overcome the “down” periods. On the other hand, when you are saving for a short-term
goal, such as a vacation or a new car or a wedding, you’ll want a set amount of
money available precisely when you need it. In this case, you may need to sacrifice
some growth potential for investments whose principal value won’t fluctuate,
such as certificates of deposit (CDs) and bonds.
Keep in mind, though,
that when you’re investing for long- and short-term goals, it doesn’t have to
be just one strategy or the other. You can save for retirement with primarily growth
vehicles but still have room in your portfolio for shorter-term instruments.
And even when you’re specifically investing for some short-term goal, you can’t
forget about your need to save and invest for retirement.
And here’s one final
point about the relationship between time and investing: Your risk tolerance
can, and probably will, change over the years. As you near retirement, you may feel
the need to adjust your portfolio toward a more conservative approach. That’s because
you may want to consolidate any gains you might have achieved while also
recognizing that you simply have less time to bounce back from down markets.
Still, even in retirement, you’ll need some growth potential in your portfolio
to help you stay ahead of inflation.
When you invest, one of
your biggest considerations is time — so use it wisely.
Chad Choate III, AAMS
828 3rd Avenue West
Bradenton,
FL 34205
941-462-2445
chad.chaote@edwardjones.com
This
article was written by Edward Jones for use by your local Edward Jones Financial
Advisor.
Edward
Jones, Member SIPC
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