Why Goals-Based Investing Might Be Right for You

Use this link to read the full article from Investopedia featuring comments by Michael Alexenko, CFA

 “If you don’t put your plan in writing and you’re not specific about your financial objectives you’ll be more likely to make ad-hoc decisions,” according to Michael Alexenko, chartered financial analyst (CFA) of Royal Asset Managers.The ad-hoc decisions Alexenko mentions might make sense in the moment though they can have a disastrous impact on a portfolio in the long-term. Think of the goal-based approach as a means to ground your investing, so you're driven to accomplish the specific goals you have in place. (For more, see: Your 401(k): How to Handle Market Volatility.)