Page 17 - Talk of Tequesta- March '23

The Talk Of Tequesta, Page 17

FinanCial FoCus

Should Investors “Go It Alone”?

By Sally Sima Stahl

If you’re going to enjoy a comfortable retirement, saved at retirement, compared to about 27 percent of the to live? How much would
you should know, among other things, how much money do-it-yourselfers. you like to travel? Are you
you’ll need. And you may have a much better chance of How do financial professionals help their clients in open to pursuing earned
knowing this if you get some professional help. these ways? income opportunities, such
Consider these findings from a 2021 study by Dalbar, First, consider the issue of determining how much as consulting or working
a financial services market research firm: money will be needed for retirement. It’s not always easy part-time?
• Investors who worked with a financial advisor were for individuals to estimate this amount. But financial Next comes the other
three times more likely to estimate what they would have professionals can help clients like you arrive at this key question: How much
saved at retirement than “do-it-yourself” investors. figure by exploring your hopes and goals. How long money will be available
• More than two-thirds of investors with a financial do you plan to work? What kind of lifestyle do you for retirement? This big
advisor were satisfied with the amount they would have anticipate enjoying in retirement? Where would you like question leads to many
others: How much do you
need to save and invest each year until you retire? About
what sort of investment return will you need to reach
your retirement income goals? What level of risk are you
A willing to take to achieve that return? What is the role
of other income sources such as Social Security or any
pensions you might have?
COLONOSCOPY Having a financial professional help you gain a clear
idea of your retirement income picture can certainly be
reassuring. But there may be other reasons why “going
it alone” as an investor might not be desirable.
For example, when the financial markets are down,
CAN SAVE YOUR LIFE. as was the case for much of 2022, some investors make
decisions based on short-term volatility, such as selling
investments to “cut their losses,” even if these same
investments still have solid business fundamentals
and good prospects for growth. But if you work with a
financial professional, you might decide to stick with
these investments, especially if they’re still appropriate
for your long-term strategy. Other times, of course, the
advice may be different – but it will always be advice
based on your goals, needs and time horizon.
Furthermore, if you’re investing on your own, you may
always be measuring your results against the major market
indexes, such as the S&P 500 or the Dow Jones Industrial
Average. But in reality, your portfolio should contain a
wide range of investments, some of which aren’t contained
in these indexes, so you might not be assessing your
performance appropriately. A financial professional can
help you develop your own, more meaningful benchmarks
that can show the progress you’re actually making toward
your goals.
In some areas of life, going it alone can be exciting –
but when it comes to investing for your future, you may
benefit from some company on the journey.
This article was written by Edward Jones for use by
your local Edward Jones Financial Advisor, Edward
Jones, Member SIPC.
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