Retirement Portfolio Allocation: 5 Key Steps to Know
It almost goes without saying that planning for retirement — particularly when it comes to your finances — is a vital step in securing a comfortable future for yourself and your family. That part of the equation is common knowledge. But it can still leave you with plenty of questions about what strategies you’ll use to actually get to that point. That’s where retirement portfolio allocation comes in.
Retirement portfolio allocation refers to deciding how much money to put into each of the different investments that make up the bulk of your retirement savings. Think of it as creating a plan that outlines different financial products you should invest in, when you should invest in them and how long you’ll continue investing in them. Understanding a few key steps in this process can make your retirement portfolio allocation planning easier to navigate at any age.