Quite simply, the more that you invest and the longer that you invest, the more potential your savings has to grow due to compound interest.
Whether your investment portfolio has taken a loss, you’ve needed to dip into your savings account, or you’ve only just started to put money aside for your investment, it can seem like the most logical choice to take higher risk, higher reward investment strategies – but when you’re planning long term, those can turn out disastrously. At Safe Harbor Financial Investments, we believe in a more patient, conservative approach to your retirement, but we are equally equipped to help you make faster wealth accumulation, as well.
It is important to bear in mind that the point of a retirement plan is to prepare for the future, and what happens in the present can drastically impact your future financial security. All it takes is one downturn in the market for an investment portfolio to lose a lot more ground than it has taken or retained. Slow, conservative strategies, that put only a portion of your assets into the stock market, are better geared towards long-term plans, such as a retirement that is ten to thirty years away. By taking lower risk investments or secured income contracts, such as annuities that can generate dependable retirement income, you are better prepared for surprises during your retirement.
What style of wealth accumulation and management approach is the right one for you? If you are interested in learning more, contact our office or complete the request a consultation form to start a dialog.