5 ways to make retirement planning

Don't chase the latest fad. Everybody loves to argue that a certain strategy is the way to go. But any investment can seem appealing if you cherry pick the right time period. The problem is that most people change course to chase the latest fad after that investment has already gone up. Remember when many people were touting the virtue of more bonds in 2009 and 2010, after stocks had already crashed and were on the verge of a multi-year bull market? Now everyone is talking about dividend stocks, even though the market has already tripled in value. Markets go up and down, and it is common for an investment to perform very well after it has suffered a prolonged period of underperformance. There is more than one road to investment growth, but it's important to stick with a route long enough to reap some rewards. If you truly have to change course, then consider changing after you've waited long enough for the strategy to shine again. The worst thing you can do is to jump from hot strategy to hot strategy, because that pretty much guarantees paying too much in taxes and severely underperforming.

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