From the course: Developing Investment Acumen
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Define and optimize your strategy
From the course: Developing Investment Acumen
Define and optimize your strategy
- Every investor wants to maximize their returns, but how to do that isn't so easy. Defining your goals and developing a strategy is the way to move forward with confidence. Start by clearly defining your goals. In two years, do you want to have enough for a down payment on a house? Or you have a new baby and you want to have enough to pay for college. Whatever it is, set a date and write it down. Next, look into the different strategic approaches to investing, and see which ones appeal to you. You can choose between active and passive investing or a combination of the two. With passive investing, you default to what's going on in the market through low-cost ETFs. You'll never do better or worse than the market at large, but at least you're in, and history has shown that over time, that just tracking the market can be the best investment of all. It's the ultimate in set and forget. Active investing is choosing specific investments, rebalancing your portfolio, and optimizing your tax…
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