It’s almost Earth Day, which focuses on protecting and preserving the environment.
And the principles from this occasion can be applied to other areas of life - such as investing.
For starters, consider sustainability.
You want to build enough financial resources to sustain you through retirement.
To do so, you’ll need an investment mix that provides growth opportunities within the context of your own risk tolerance.
Another Earth Day activity involves learning to avoid toxic behaviors such as improperly disposing of hazardous materials.
As an investor, you, too, have to watch out for toxic actions, such as constantly chasing “hot” stocks that aren’t suitable for you.
Getting rid of clutter is another lesson some people take away from Earth Day.
When you invest, it’s also surprisingly easy to pick up “clutter” in the form of multiple accounts.
You might have an IRA with one provider and brokerage accounts with others.
If you were to consolidate these accounts with one provider, you may find it easier to follow a single, unified investment strategy.
Earth Day only happens once a year — but it may provide lessons for investors that can last a lifetime.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC
