Saving and investing for retirement must start early, perhaps even before you begin your career, and last throughout your post-retirement life. In fact, your investment tactic is not static, and also will be varied throughout each stage in your life. You must also talk to investment experts who can identify the right strategies for you based on your current lifestyle. Below you can find a list of different retirement investment strategies as per your current age.
20s & 30s
You can be more aggressive in your approach in this decade as you’re more likely to be able to cope with the dynamic changes in the market. Equities may offer greater long-term advantages as compared to bonds or cash.
40s & 50s
Determine your strategy by using the growth and income investment method to aid balance retirement scheduling, along with other financial commitments like children’s college education. You yet have a period to develop your nest egg, however, you may need some occasional capital outlays to come across much more imminent obligations.
60s & 70s
At the time when you approach retirement as well as look to decrease risk in your portfolio, you will find only a small period in which you can cover your losses. Keep in mind that fixed investments are less volatile, but provide lower returns than stocks.
70s & above
Make sure you continue to generate assets even at this stage. Don’t abandon equities, but also consider inflation rates while you make investment decisions and draw up strategies.