Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.

Money Matters
by Wendell Whitman
Edward Jones

Investing is a Marathon, Not a Sprint

If you look at investing in terms of an athletic event, it’s more of a marathon than a sprint. So as an investor, you can learn a few things from marathoners.

First, be prepared. Marathoners train for months, and sometimes years. As an investor, you can prepare by learning about different asset classes and risk factors.

Also, show patience and perseverance. Marathoners deal with injuries and other setbacks but still manage to prevail. When you invest, you’ll face obstacles, such as market downturns. But if you keep following a proven investment strategy, you can succeed.

Finally, get proper coaching. Marathoners either work with coaches or attend clinics to learn how to run their grueling race. As you work toward your important goals, you can benefit from the help of a financial professional.

You can learn a lot from marathoners. Put this knowledge to work soon.

Investment Mistakes to Watch Different Stages of Life

Investment mistakes happen — but if you’re familiar with the most common mistakes at different stages of an investor’s life, you may be able to avoid these errors.

For example, when you’re young, don’t invest too conservatively (or not at all). You have decades to overcome short-term market drops, so take advantage of this time and invest for growth.

When you’re in mid-career, your earnings have likely increased — so don’t make the mistake of under-funding your IRA and 401(k).

Then, when you’re nearing retirement, you may need to adjust your portfolio’s overall risk level between growth and income vehicles — so don’t make the mistake of not rebalancing your investments.

When you’ve just retired, you need to be sure your money will last. That’s why you must avoid the mistake of not developing an appropriate withdrawal strategy.

By not making these errors, you can help yourself make progress toward your financial goals — at every stage of your life.

Contact Wendell at Edward Jones

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