From the Experts at Bouchey Financial Group: You Need to Have a Financial Plan in Place

Written by: Marty Shields

A good rule of thumb in life is, if an activity is important and somewhat complex, it is best to have a well thought out plan in place before your proceed. It is safe to say that managing your investments is certainly one of these activities. With the said, it is amazing to see how often investors do not have a plan in place and instead manage their investment portfolio based on emotion, headline news and advice from friends. For an investment plan to be successful, at the very basic level, it needs to consider items such as your risk tolerance, investment time horizon, tax situation and return objectives. It is important that the financial plan is managed and updated based on changes in your life.

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