Planning your retirement investment portfolio can be a confusing task. Luckily professionals such as Pete Briger of Fortress Investment Group are here to help you plan your financial future so you can relax and enjoy your golden years with peace of mind. Pete Briger’s documents indicate that he has decades of experience dedicated to smart investment choices. Here are some ways you can get started planning your portfolio today.
Define your goals
There are many investment options out there, so it is important to define what your long term financial goals truly are. For example, you may want to design a portfolio that can provide a long term set monthly income, or you may have some extra money that is not crucial to maintaining your lifestyle. If you want to leave something to pass on to your family, then you need to consider this when planning out your future.
Decide what level of risk is acceptable
Some investments are riskier than others. A mid-cap mutual fund has a higher level of risk than a low-cap. If you are younger, you may consider some higher risk investments. While the potential for returns is high, if you do lose some of your investment, you have many years to recover the lost funds. Older investors often stick to a more conservative portfolio, but that does not mean that there is no room for higher risk lucrative investing.
Research and research some more
Making an investment is a big decision. It is essential that you have all the information about an investment before making a final decision. This is truly a case where you want to “read the fine print”. Your investment adviser can help you understand anything you are not clear on. A sure sign that something is amiss is when an investment professional does not want to answer your questions. It is your money, and you deserve to know everything before you invest.
Be open to opportunities
Alternative investments may include helping provide startup capital for an emerging entrepreneur. This is sometimes referred to as angel investing. There are groups that help organize these types of investments or you can seek out up and coming entrepreneurs yourself. It is important to make sure that any agreements are done with the necessary legal paperwork so that both the investor and the entrepreneur are clear on the terms of the investment. Many small businesses take years to get up and running, so patience is important when investing in a privately held small business.
Although you can manage your own IRA, you need to have an investment custodian hold it for you. A true self-directed IRA allows you to directly invest in precious metals, real estate, mortgages, trust deeds and more. These types of investments are not something that you can directly invest in with a traditional IRA. Don’t be fooled by banks that advertise self-directed IRA’s that only allow you to invest in funds and products that they hold. This is not a real self-directed IRA because you have such limited options.