The idea of saving money for retirement, a child’s college education, or even a down payment on your first home may sound pretty easy, and most people understand the value and benefits of planning for the future; however, choosing what to invest in can be more confusing.
Whether you are investing in a savings account, personal IRA (individual retirement account), or a 401K through your employer, it is important to pick the right investments for you. So how do you know which investment options to choose? There are a few factors to keep in mind when deciding in which types of products to invest:
- time horizon
- risk tolerance
- diversification
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