Start planning your finances for tomorrow today

To live a comfortable lifestyle in retirement, it’s important to start planning for your twilight years as soon as possible. At the end of the day, you're never too young to start planning for your retirement.

Step 1: Diversify your investments

The more you diversify within your investment portfolio, the more likely you are to reduce your level of risk. Some key diversification strategies include investing overseas or in different types of industries. By investing overseas and/or in different industries, you reduce your risk level.

Step 2: Control costs

One of the best ways to strengthen your investment portfolio is monitoring the dollars you spend. Take stock of management fees, taxes and trading costs you have and ask yourself: ‘is there a more cost effective way to do this?’ If your answer is ‘yes’, then do something about it.

Step 3: Review your portfolio regularly

Your investment portfolio is not like a fixed rate mortgage, you cannot set and forget it. The reality is, your different investments will generate different returns over time - which means your portfolio can drift from its target allocation. As a general rule of thumb, it’s worth reviewing your investments on an annual basis.

Talk to your local financial adviser today

For more information on how to create the right investment strategy for your future, give us a call and book an obligation free appointment with one of our financial advisers today

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