How long do you plan to hold your investments before starting to withdraw?
Short Term Investing: Usually this is for a short range goal and not for financial independence. Open a Cash Back Direct account, LyncSave account or an individual or joint account. For investments, choose Conservative to Moderate investment strategies when designing your investment portfolio depending on your attitude toward risk and reward as you will be accessing these funds sooner than later. Any savings time frame less than three months is never investing, it is saving and best situated for a bank or credit union. That being said, if you have money in the bank you really don’t intend to use for a long term but you want access to it, move it to this or the next category, Mid Term Investing! You always have 100% access to your investments.
Mid Term Investing: This may be for a shorter term goal such as to purchase a house, a business or a car or for Cash Back Investing from Shopping. Open a Cash Back Direct account, LyncSave account or an individual or joint account. For investments, choose Moderately Conservative to Moderately Aggressive investment strategies when designing your investment portfolio depending on your attitude toward risk and reward.
Long Term Investing: More than 5 years. This may be for a bigger goal, possibly including retirement but more often a business or a home. It could also be a goal for Cash Back investing from shopping. Open a Cash Back Direct account, LyncSave account or an individual or joint account. You should most likely Choose Moderately Conservative to Aggressive investment strategies when designing your investment portfolio depending on your attitude toward risk and reward .
Investing for Retirement: When people think about Investing for Retirement usually people think of investing up to the date of starting retirement. This is incorrect! You need to think up to retirement and then through retirement! This is a portfolio that should last you for life! It’s best to start early and think big. Overall it’s best just to get going! Choose this choice to find out how much you need to save and the best strategies to target your goals. When designing your portfolio design it for Moderately conservative to Moderate Aggressive if you are within 5 years of retirement or ready to retire. If you are more than 5 years from retirement you should probably design a portfolio for Moderate to Aggressive based on your comfort zone with risk – the ups and down of the market that are inherent with investing.