Stay focused on your long-term goals. Politicians come and go, and our political parties seem to take turns holding the reins of power. Yet your long-term goals — such as college for your children, a comfortable retirement and the ability to leave a legacy to your family — don't really change. By realizing that you are largely responsible for achieving your goals, and by following an investment strategy that's suitable for your individual risk tolerance and time horizon, you can make gradual, but still meaningful, progress toward those goals — no matter what's happening in Washington.
Review your strategy regularly. With the possible approach of changes in tax policies and government programs that can affect your retirement security, you'll want to review your investment strategy regularly to make sure it's still on track toward helping you meet your objectives. As part of this review, you may want to seek out more "tax-smart" investment opportunities, while always looking for ways to supply the asset growth you'll need to enjoy the retirement lifestyle you've envisioned.
Aside from voting for the candidates who best represent your interests, you may not have much influence over what goes on in Washington. But by "electing" the right moves to help meet your goals, you can have plenty of control over your investment strategy.
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Edward Jones Financial Adviser Michael Quinn submitted this column. Quinn's Edward Jones office is at 25 Railroad Square, Suite 201, Haverhill. He can be reached at 978-372-8453.