There are many things to consider when laying out your investment strategy. Figuring out your risk tolerance and time horizon are some of the first steps, but what comes next? In this episode of Decoding Retirement, Robert "Bob" Powell speaks with Steph Guild, Robinhood Senior Director of Investment Strategy, about how to balance competing demands such as paying off your debt and saving for certain goals including retirement. What’s the best advice for people who are behind on their savings goals? Find out in this week’s episode of Decoding Retirement. Balancing debt and saving (:40) How should you balance your debt payments and saving for your goals? "You can deduct student loan payments from your income." Differentiating gambling and investing (8:00) What’s the difference between gambling and investing? "The answer to this question is time." Advice for people behind on saving (13:45) What are some ways to catch up on your savings? "You only have the present so just get started."
Video highlights:
00:40 – Balancing debt and saving
03:20 – Decoding time horizon
05:40 – Decoding risk tolerance
07:40 – Differentiating gambling and investing
10:50 – How to allocate your money
12:10 – Why it’s important to save early
16:10 – How to balance competing demands Retirement planning doesn’t mean locking up your money for a rainy day and forgetting about it.
Planning your future means reacting to events today. Decoding Retirement gives you the tools to navigate the years ahead, and take action now! Yahoo Finance’s Decoding Retirement is hosted by Robert Powell, and produced by Austin Rivera. Find more episodes of Decoding Retirement at https://finance.yahoo.com/videos/series/decoding-retirement. Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.
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