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2017 Charts of the Week

Five Investment Resolutions for 2018

Chart of the Week for December 29, 2017 - January 4, 2018

New Year's resolutions are popular. Consider adding one or more of these tips to your resolution list.

It's a popular time of the year to start thinking about New Year's resolutions. Here at ICMA-RC, we offer you five investment ideas to consider for 2018 resolutions:

  1. Review your investment plan - Calculate your net worth and review your investment plan to ensure it continues to be on track with your financial goals for retirement and your risk tolerance. If you don't have an investment plan, set one up.
  2. Review your investment portfolio - Evaluate your asset allocations, which are likely to have shifted during the year, in part due to the differing performance of various asset classes. Consider rebalancing to maintain your target allocations and risk tolerance.
  3. Pay yourself more - Increase the amount you contribute to your retirement savings plan this year. Think of the future and your retirement needs. If your employer offers a match, make sure to take maximum advantage of those extra funds. For 2018, the retirement plan Regular Contribution limit is increased to $18,500 and the retirement plan Catch-Up Contribution limit is unchanged at $6,000.
  4. Learn at least one new thing about investments - Education can help you better understand your investment options and generate new ideas. Try reading a book on personal finances or use the many resources available on the internet. Classes on investing are also readily available--either online or in a classroom.
  5. Consider opening an IRA - Consult your tax advisor to determine which IRA or retirement plan option may be best for you. The earlier you start saving, the longer your money has the potential to grow.

© Copyright 2018 ICMA Retirement Corporation, All Rights Reserved. This information is intended for educational purposes only and is not to be construed as investment advice or a solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed here. Past performance is not necessarily indicative of future performance.

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