What’s Your Timeframe? (Article)

What’s Your Timeframe?

When it comes to your investment strategy at times like these, the first question you need to answer is about your time frame for needing the money you have invested. If you need any of it in the next twelve months, we recommend selling that amount immediately and holding it in a money market account.  If your time frame is longer, there’s a good chance you’ll be better off hanging on. If you’re investing via a 401(k) or 403(b) plan, remember, your regular bi-monthly contributions are “dollar-cost-averaging” your cost basis lower which will help boost returns once the rebound occurs. So, the first step is to assess your time frame and then take action, if needed.

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MoneyAdvice@Work® is an employer-sponsored financial wellness benefit designed to connect employees to financial professionals who educate, advise, and coach without the sales pitch. Learn more about our service offering here. The summary/prices/quotes/statistics contained herein have been obtained from sources believed reliable but are not necessarily complete and cannot be guaranteed.  Past performance results are not necessarily indicative of future results. MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel does not provide tax or legal advice.