Defining a strategy

What makes a well-rounded strategy?

A well-rounded strategy can go a long way to prepare you for the uncertainty of your future. By understanding the key elements of a sound financial strategy—with the help of a financial professional—you may be able to mold your saving and investing plan into the image of the future you want to see.

Saving, investing, and generating income

As you create your financial strategy, consider two major phases of your life: you earn, save, and invest toward an ideal retirement, and once you do retire, covering your day-to-day expenses with savings becomes key. A steady income stream—one that comes from an employer, Social Security, real estate, or other investments—becomes essential for most.

Balancing protection and growth

By measuring your risk tolerance, you can work with your financial professional to identify the strategies that align with your preference for balancing protection and growth. 

Planning tax-efficiently

Saving on your tax bill may be important to you—particularly when drawing income and investing. As you explore further investment options, talking to your financial professional about deferring taxes to a later and possibly less tax-intensive stage of your life may help you define a more tax-efficient plan.