Investment Strategy Can Be Your GPS as You Travel Toward Goals

Submitted by Edward JonesPrint Story | Email Story

Summer is here at last. For many people, it's time to get the car ready for a long road trip. And with GPS-enabled smartphones, it's now a lot easier to navigate these drives without getting lost.

During your life, you may take many journeys – one of which is the long road you will travel toward your financial goals. But even on this path you can benefit from a "GPS" in the form of your goal-oriented, personalized strategy.

Your investment strategy can function this way by helping answer these questions:

How far do I have to go?
Your smartphone's GPS can quickly tell you how many miles you need to travel to arrive at your destination. And a well-constructed investment strategy can inform you of when you might reach a goal, such as having a desired amount of money when you retire, given your current age, earnings, sources of retirement income, and so on.

What route should I follow? Your GPS will plot out your route, showing what turns you should take along the way. Similarly, to reach your desired financial outcome, your investment strategy helps guide the investment decisions you make, such as investing adequate amounts in the appropriate vehicles, including your 401(k) and IRA.



What problems await me? When your smartphone's GPS shows red on the route you're following, you know that heavy traffic lies ahead. And your investment strategy can also help you manage bumps in the road, particularly if it's a strategy you have designed with a financial professional, who has the knowledge and technology to create various scenarios and hypothetical illustrations to account for potential difficulties – i.e., a rate of return that's less than expected, a lower income base than you had anticipated, greater college costs than you bargained for, and so on.

When should I take an alternate route? For whatever reason, you may deviate from the course plotted by your GPS – which will then helpfully re-route you. While following your investment strategy, if you make a wrong turn, so to speak – perhaps by putting insufficient funds in a retirement account or by assembling an investment mix that has become unsuitable for your risk tolerance – you may need to get back on track.

As we've seen, some analogies exist between your smartphone's GPS and your investment strategy. And yet, there's also a big difference in terms of complexity. It’s simple to program your smartphone to give you the directions you need. But crafting a personalized investment strategy takes time and effort. You need to consider all your goals – college for your children, a comfortable retirement, the ability to leave the legacy you want – along with your time horizon, risk tolerance and other factors. And your investment strategy may well need to change over the years, in response to changes in your family situation, employment and even your objectives – for example, you may decide you want to retire earlier (or later) than you had originally planned.

In any case, like your GPS, your investment strategy can help guide you – so make good use of it.

This article was written by Edward Jones for use by your local Edward Jones financial advisor. Courtesy of Rob Adams, 71 Main Street, North Adams, MA 01247, 413-664-9253.. Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. For more information, see EdwardJones.com.

0 Comments
iBerkshires.com welcomes critical, respectful dialogue; please keep comments focused on the issues and not on personalities. Profanity, obscenity, racist language and harassment are not allowed. iBerkshires reserves the right to ban commenters or remove commenting on any article at any time. Concerns may be sent to info@iberkshires.com.

North Adams Happenings: July 24-30

North Adams Happenings July 24 - 30, 2019

SAVE THE DATE
AUGUST 6th - National Night Out
4:00 P.M. - 8:00 P.M.Neighborhoods throughout North Berkshire once again join the North Adams Police, Fire, and Emergency Departments to host a variety of special events such as cookouts, games, contests, music and more!
More information.

AUGUST 14th - 23rd Annual Downtown Celebration
JOIN US! The  23rd Annual Downtown Celebration will take over downtown North Adams on Wednesday, August 14 from 5:30 – 9 PM.  
RAIN DATE: Thursday, August 15th
BUSINESSES AND VENDORS: Application still available.
More information.
Wednesday 7/24
10:00 A.M. (FREE, $5 to park), NATURE WALK, Nice 'N' Easy Walk Natural Bridge State Park, McCauley Road More information.  

10:00 A.M. (FREE), KIDS, Terrific Tots Playgroup The Family Center, 210 State Street, (413) 664-4821 More information.  

10:30 A.M. (FREE), KIDS, Preschool Story Time North Adams Public Library, 74 Church Street, (413) 662-3133 More information.   


6:30 P.M. ($3-5), SPORTS, SteepleCats V. Keene Joe Wolfe Field, 310 State Street  More information.

6:30 P.M. (FREE), MUSIC, Concerts at the Lake Presents The Matchstick Architects and Bang on a Can Windsor Lake, 200 Windsor Lake Road, (413) 664-6180 More information.

8:00 P.M. (FREE), GAMES, Trivia Night! Ramunto's, 67 Main Street, (413) 398-5152 More information.

Thursday 7/25
5:00 P.M. (FREE), ART, 2019 DownStreet Art Main Street More information.

5:30 P.M. to 11:00 P.M. (FREE), MUSIC, The Chalet: Apocalypstick Redd The Chalet at Courtyard D, MASS MoCA, 1040 MASS MoCA Way  More information.

6:00 P.M. (FREE), CONCERT, Party in the Park Presents The Hotshot Hillbillies Noel Field, 310 State Street   More information.
Friday 7/26
7:30 A.M. (FREE), MEET UP, NAMAzing Eagle Street Parklet Coffee Date NAMAzing Eagle Street Parklet, Eagle Street, thenamazinginitiative@gmail.com More information.

10:00 A.M. (FREE), KIDS, Drop-In Playgroup The Family Center, 210 State Street, (413) 664-4821 More information.

11:00 A.M. (FREE, PARKING $5), KIDS, Kidleidoscope New England's Natural Bridge, 1 McCauley Road More information.

6:00 P.M. ($1 and up), GAMES, BINGO! North Adams Elks 487 Lodge, 100 Eagle Street, (413) 664-9039 More information.

6:30 P.M. ($3-5), SPORTS, SteepleCats V. Upper Joe Wolfe Field, 310 State Street  More information.

7:00 P.M. (BY DONATION), CRAFTING, Knitting Nights with Common Folk Common Folk, 73 Main Street More Information.

8:00 P.M. ($66-300), CONCERT, The Prentenders MASS MoCA, 1040 MASS MoCA Way More information.

8:30 P.M. (FREE), MOVIE, Movies Under the Stars at Colegrove Park Colegrove Park Elementary, 24 Church Street More information.

9:00 P.M. (FREE), MUSIC, Karaoke Friday! State Street Tavern, 167 State Street, (413) 664-9152 More information.
Saturday 7/27
9:00 A.M. to 1:00 P.M. (FREE), MARKET,  North Adams Farmers Market St. Anthony's Parking Lot at Marshall Street and St. Anthony's Drive (413)664-6180 More information.

12:00 P.M. (FREE), CONCERT, Peace & Rhythm InStore Belltower records, Norad Mill, Suite 301, 60 Roberts Dr More information.

2:00 P.M. ($25), ART, Artist Talk with Chrissie Hynde MASS MoCA, 1040 MASS MoCA Way More information.

4:00 P.M. (FREE), ART, Open Studios at MASS MoCA Assets for Artists, 1320 Mass Moca Way More information.

6:30 P.M. ($3-5), SPORTS, SteepleCats V. New Bedford Joe Wolfe Field, 310 State Street  More information.

8:00 P.M. ($18-44), CONCERT, Adia Victoria MASS MoCA, 1040 MASS MoCA Way More information.
Sunday 7/28
12:00 P.M. (FREE), PICNIC, Annual Summer Picnic Horrigan Road, Clarksburg More information.

3:00 P.M. (FREE), CONCERT, Public Puberty/Carbus/Human Pontiac Belltower records, Norad Mill, Suite 301, 60 Roberts Dr More information.

4:00 P.M. (FREE), FOOD & MUSIC, Racks and Stacks (barbecue and vinyl music) A-oK Berkshire Barbecue, 2601 Mass MoCA Way More information.
 
Monday 7/29
1:00 P.M. (FREE), KIDS, Crafternoons! North Adams Public Library, 74 Church Street, (413) 662-3133 More information.

6:00 P.M. (FREE), KIDS, Discovery Mondays- Space Themed North Adams Public Library, 74 Church Street, (413) 662-3133 More information.
View Full Story

More North Adams Stories