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Word Count: 790
The Care And Feeding Of Your Investment PhilosophyIf you are making a list of tasks you should accomplish in 1988 heres one to add to the list Establish a well-balanced investment plan that suits your personal financial needs and goalsEvery investor from the newest to the most experienced needs to develop or redefine an investment philosophy The cornerstone of that philosophy should be a realistic attitude toward risk and return especially in todays volatile financial markets What is your personal comfort level with risk emotionally and financiallyThe first step is to acknowledge your investment objective Are you investing capital to earn income on which you will live If so you should probably choose the most conservative investments unless you are so well off that you can afford to take some risksIf you are investing capital to realize appreciation for a future purpose such as retirement you may want to be more aggressive than an investor for income would be but how much more depends on a number of factors Are you single or married with children and other dependents Are you just beginning your career heading into your peak earning years or ready for retirementWill you need to tap your nest egg in the near future or can you earmark a portion of your funds for long-term growth Also important your financial goals your familys tax bracket and above all your earning power and investment temperamentEarning Power Generally speaking as your income rises so does your suitability for investments of above-average risk If on the other hand your salary and savings are small but growing - keep risk taking to a bare minimum Maintain only solid investments for your portfolio US Government Securities insured certificates of deposit high quality corporate or municipal bonds and high quality common stocks offer you reasonable safety at a steady rate of return and they should form the base of almost every investment portfolioIf you can count on future income
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