Wednesday Workshops: (Protected Content)
This week we talked about the risks and benefits of using investing to achieve our goals more quickly. When we first learn about investing, many of us immediately wonder how we can use investing to speed up saving for a short-term goal such as a vacation or a new home. We also tend to look for investments with the highest rates of return thinking that that’ll be the best way to speed up achieving our goals. With higher rates of return, though, come higher risks. Over long periods of time, the rewards outweigh the risks, but we may not want to take on as much risk if we’re counting on taking that vacation next year. We discussed how to decide how much risk you can take on based on the timeframe of your goals. We also discussed how to choose investments based on the amount of risk you can tolerate.
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