There are many different options for people in Seneca, SC, to develop their investment portfolio. Generally, financial consultants like Matthew Dixon recommend an approach that is based on your level of comfort with risk, your years to retirement, and your current savings and retirement fund.
There are several mistakes that people make when investing for retirement. Working with Matthew Dixon in Seneca, SC, is a simple way to avoid these common errors. You will have a sound, long-term retirement strategy that provides the money you need to spend your retirement doing what you want.
Investing in One High Risk, High Reward Opportunity
A common do-it-yourself retirement planning strategy is to put all of your money in one type of investment. At this time, many people are moving aggressively into investing in cryptocurrencies, and some are seeing excellent returns. However, this is a highly volatile market with a lot of uncertainty. While some cryptocurrencies investing in a portfolio can be a good option for high-risk investments, it is not recommended for more than a small percentage of the portfolio.
Changing Plans
Retirement investing is a long-term plan. When designed by an expert like Matthew Dixon, it is designed to weather the ups and downs of the market. Having confidence in the financial consultant is a simple way to avoid changing plans in a downturn that can derail your future.
Dipping into Retirement Plans
It is critical to avoid the temptation of using retirement plan funds to pay off a house, a student loan, or to make a large purchase. Not only will this result in immediate tax implications and penalties, but it will also decrease your income potential in the future.
