[Soon] we observe Labor Day, a celebration of the American worker. And you can apply some of the lessons of the workplace to your efforts as an investor.
For starters, be persistent . The most successful workers show up, day after day, and strive to overcome the inevitable obstacles that crop up. As an investor, you, too, need to be consistent in your habits – which means you should keep investing in all types of markets.
Also, be flexible. When good workers see that something is not going well, they change what they’re doing. And when you invest, you need to be prepared to adjust your portfolio to meet changing circumstances.
Finally, be farsighted. Just as employees can visualize the end results of their labors, you should see your ultimate destination, such as a comfortable retirement – and you should stick with a strategy that can take you there.
Labor Day reminds us to appreciate the skills and dedication of all workers – and as an investor, you can put these same attributes to good use.
This is Kimber Smith, your Edward Jones financial advisor, AAMS, CRPC at 4767 Mangels Blvd, Fairfield, CA 94534. Kimber.Smith@edwardjones.com
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