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Be sure to check out the hobbyist sections of our site. We're in the process of rolling out sections on photography and everyday gadgets. We don't focus on the cutting edge, new technologies -- we're focusing on how to use new technologies in everyday life.
Gadgets
every day uses for new and old technologies.
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Your Investment Plan
One of the parts of developing a comprehensive financial plan is the development of an investment plan. There are six steps that you should follow when you are developing your investment plan.
1 - The Means to Invest.
In order to even begin this portion of your financial plan, you must determine that you are ready to save. In this step you will determine if you are going to use the money on some good or service (spend it), or if you will invest or save the money.
2 - Investment Time Horizon
In this step, you will be determining how long you plan to invest and when you will need the funds to meet your financial objective(s). You must decide, based on the time horizon of your objectives, among short-term investments, long-term investments or some combination. In this step you are going to be determining what you will be saving for, which should give some indication of your time horizon.
3 - Risk and Return
You will need to determine what your level of risk tolerance is. As the level of risk tolerance increases so does the potential for higher returns as well as larger losses.
4 - Investment Selection
Based on 1, 2 and 3 above, investments should be selected to meet your goals. These investments must satisfy your time horizon and your risk tolerance.
5 - Evaluate Performance
Once investments are chosen and expectations are established, the performance of your investments should be determined by comparing the actual realized returns against the expected returns. The returns should also be compared to a benchmark, such as the S&P 500 index. In addition, the investments should be reevaluated to determine if they continue to meet your investment criteria.
6 - Adjust Your Portfolio
Your portfolio should be adjusted to maintain your goals and your investment criteria. If your goals change, your investments should be reviewed to determine if they continue to meet your objectives.
To summarize, once you have determined that you are financially able to begin investing (or saving), you should evaluate your investment goals and set out a plan to accomplish these goals. Once you have begun your investment plan, you must periodically review the performance of your investments and re-evaluate your objectives and investments to make certain there is a good fit.
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If you're looking for information on the the FinPlan Divorce Planner (from the other FinPlan company), please continue on to http://www.divorceplanner.com.
Note - FinPlan.com does not offer any information regarding this program nor does it have any relationship with the company offering the software. This link is provided as a service only.
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FinPlan.com offers several online tools and calculators as well as some software programs from FinPlan, Inc. FinPlan started developing software in the 1980s developing 10 programs covering several personal finance topics.
Family Retirement Planner
The FinPlan Family Retirement Planner provides an excellent high-level retirement planning model to help you determine your retirement planning needs which will allow you to develop a strategy to get there.
Financial Toolkit
The FinPlan Financial Toolkit provides a variety of financial tools designed to help you answer many questions on personal finance.
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