In all walks of life, resilience helps – and that’s certainly true when it comes to achieving your financial goals.
But to be resilient, you’ll need to overcome obstacles. For example, when investing in your IRA and 401(k), you may see your balances drop during periods of market volatility. To show resilience, though, you should remain invested.
Building your IRA and 401(k) is one thing – but protecting them is another. You may face situations in which you need a sizable amount of cash in a hurry, perhaps for a major car repair. Dipping into your retirement accounts early could result in penalties, but you can help avoid this setback by building an emergency fund.
Here’s one more challenge: Creating a long-term investment strategy and having the confidence to keep following it. Your resilience can be strengthened by getting regular guidance from a financial professional.
You will face some bumps in the road on your journey toward achieving your financial objectives. But by being resilient, you can keep moving forward.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisors, Brent D. Hoskinson and Linda Drake.