While many of us don’t realize it, we are constantly engaged in subconscious acts of investment planning. We plan how we can best invest the limited time we have at our disposal. Would the 2-hours we have best be spent visiting a friend at the hospital, or would it be better invested, say, by taking in that ball game? We do some longer-term planning too: Does it pay to invest the effort studying for a degree in Arts, or would we get a better return studying to pass the Bar exam?
So, why don’t we invest the time planning our investments?
Why Investment Planning is Important
It’s been said: What you sow, so shall you reap! When it comes to enjoying the fruits of your investment, truer words were never spoken. Even if you don’t have thousands of dollars to invest, simply taking the time deciding where to “park” the money until you need it can be a rewarding investment planning exercise.
How your money grows, what you pay for that growth, and the ease and comfort with which you “journey” towards reaping the rewards of your investments, are all important aspects of a good investment plan. In the absence of such a plan, your financial future could be in jeopardy!