(this is just part of what I am going to teach at the 2nd Annual Investment/Retirement Workshop) Sign up--HERE
One of the key decisions that has to be made from time to time with your retirement investments is reducing or increasing risk. With the current euphoria of the stock market, you might be contemplating at this very moment whether to increase or decrease risk with your investments. For those who want to increase their risk, they are potentially fearful of missing out on stock market gains given the rate at which the stock market has been growing. For those who want to decrease risk, they are thinking that this can't last forever and we are due a tough decline in the markets.
Deciding to increase or decrease risk is mostly situational. Unless a risk level has permanently changed, the switch in risk levels should be temporary based on the length of the opportunity (if you increase risk) or the length of the decline (if you decrease risk). What you don't want to do is have a financial adviser talk you into a new investment that would increase or decrease risk that you would have to commit to for an extended length of time.
Take annuities for example - for a low risk investment, they are hard to beat. HOWEVER, ANNUITY PLANS ARE FAR FROM A TEMPORARY RISK REDUCTION STRATEGY. OFTEN TIMES, THEY REQUIRE A 7 TO 10 YEAR COMMITMENT. The same thing applies to increasing your risk level. For instance, right now probably is not a great time to commit money to a risky investment that requires a long-term commitment.
You need flexible temporary strategies when it comes to risk. This Saturday at our 2nd Annual Investment & Retirement Workshop I am going to teach these simple to use strategies. My goal is to teach you everything you need to know about risk! So, come join us by signing up for the 1 hour workshop. Spots are filling up fast! WORKSHOP LINK