Going with your gut is often a good way to make tough choices: What to have for dessert, whether your first date was good enough to justify a second one, or whether new fashions are for you. But it may not be helpful when it comes to investment choices. There, we believe a little education is in order. But 79% of investors go with their gut when making portfolio calls, according to Natixis Global Asset Management.
What’s more, 50% of investors said they didn’t have a clear investment goal and 54% have no financial plan.
Just One Thing You Can Consider This Week
But there’s no reason you can’t have a decent shot at reaching your retirement goal. The first step to consider: Envision your retirement by thinking about where you want to live, what you want to do, and at what age you want to end your primary career. We have a tool that can help. If you haven’t already, you may also want to consider getting help on the investing front—either through a managed investment like a target date fund, or a financial advisor.
That way you’re going with the brain—yours’ or someone else’s—and giving your gut a rest.