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Essay sample - Long-Term Investment Strategy
Finance & Accounting
Pages 4 (1004 words)
Name: Institution: Course: Instructor: Date of Submission: Long-Term Investment Strategy My overall goals to choose long-term investment strategy is to ensure that after I retire, I do not suffer and remain relevant as far as investment or business is concerned…
Again, the savings have to be an equal amount of money that I get from my security fund every month. I really want that when I retire, I have enough money that can enable me to build a bigger and expensive residential home and also have business premises in the city. Therefore, in addition to saving for my children, I’d like to save close to $6 million for the premises project. To be able to achieve all these goals, my monthly retirement savings must be put into an investment that will enable this money to multiply. This will help me to both save and invest at the same time. By saving, I will be able to earn an interest every month and when I invest, there are proceeds that I will benefit from in form of profits. My retirement savings per month is $1,000. I’ll be able to take this fixed amount of money monthly and invest it in appropriate investment. The low-cost mutual funds and ETFs that attract popular market indexes will be preferable for this strategy but dollar costing can be done for any investment. This has two benefits, first by putting aside the same amount every month; one builds the habit of saving and investing at the same time. Secondly, one would buy more shares when they are cheap and when prices shoot, one ends up with the same shares hence investing the same amount. Averagely, I will be able to buy more when an investment is cheap than when it is expensive. ...
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