Post picking an investment option, it is important to craft an investment strategy depending on your saving goals, how much money you need to reach them and your time horizon.
If your savings goal is more than 20 years away, almost all of your money can be in stocks. But picking specific stocks can be complicated and time-consuming, so for most people, the best way to invest in stocks is through low-cost stock mutual funds, index funds or ETFs.
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Invest in index funds not individual stocks. Put your own behavioral psychology to work here. Invest automatically and over long periods of time.
Once you’ve covered the basics (aka index funds), allocate 5-7% of your income to “mental outlets.” This is money for you to inv...
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