Expert insight
The road to successful investing starts with a few steps
December 13, 2023
Even when tested by fear and uncertainty, investors are well-served by sticking to a long-term plan. They can improve their chances for investment success by taking three important steps, said Jon Cleborne, CFA, a principal and head of Personal Investor Advice at Vanguard, in a guest column for MarketWatch.
What investors should consider on their journey
Cleborne specifically notes the following actions for investors:
- Take a slow, calm, methodical approach when confronted with unexpected market volatility or intimidating headlines. A calm, disciplined approach will allow an investor to stay the course, ride out market challenges, and successfully track long-term investment goals.
- Keep investment costs as low as possible. The less investors pay in investment expenses, the more they can keep in returns. You can’t control the markets, but you can control costs and taxes.
- Know when to get help. A financial advisor can be indispensable when an investor encounters challenging markets or experiences complex financial planning and retirement needs. In addition to providing financial expertise, an advisor can also serve as a financial coach—providing stability and supporting clients through complicated and sometimes emotional decisions.
Related links:
- Flipping the script on how we talk about investing success (article, issued December 2023)
- Four timeless principles for investing success (article, issued November 2023)
- Investing in advice (1:43 video, issued February 2023)
Notes:
All investing is subject to risk, including the possible loss of the money you invest.
