Wise Choices

Investing for retirement can be tough. Not every investor is comfortable deciding when and how much to invest. That’s particularly true when the markets are highly volatile. However, when you invest through your employer’s retirement savings plan, you use dollar-cost averaging—an approach that helps simplify the process and takes the guesswork out of when to invest.

Here’s how dollar-cost averaging works: You invest a fixed amount in the same investments on a regular schedule. You make these investments no matter the current share price or the overall direction of the markets. Since you are investing the same amount of money each time, your dollars will buy more shares when the share prices are low and fewer shares when prices are high.

By consistently saving and investing during up and down periods in the markets, you can keep moving toward your long-term goals.

Like many other retirement savers, you may lack confidence when it comes to choosing investments for your retirement plan account. In fact, you may worry about a fall in the stock market hurting your retirement savings. During times when the economy and the stock market are volatile, you could be tempted to fill your portfolio with low-risk cash alternative investments.*

If you do, just be aware that so-called “safe” investments are not risk free. While there is not much risk of losing your principal (the amount you invested) by investing in cash alternatives, you do run the risk of not earning enough on your investments to beat inflation. As a result, you could lose purchasing power over time. There’s also the big risk that you may not reach your savings goal. If that happens, you might not be able to afford the kind of retirement you want.

Investing regular amounts steadily over time (dollar-cost averaging) may lower your average per-share cost, but this investment method will not guarantee a profit or protect you from a loss in declining markets. Effectiveness requires continuous investment, regardless of fluctuating prices. You should consider your ability to continue buying through periods of low prices.

You can adjust your portfolio’s risk-return profile by including^** some riskier investments that offer higher potential returns than cash alternatives (e.g., stock and bond funds). The percentages of your account that you devote to stocks, bonds, and cash will depend in part upon how soon you plan to retire. If you have many working years ahead of you, you may be willing to assume more risk than if you plan to retire soon. With a longer investing time horizon, you would have more time to recover any investment losses.

* Note that cash alternative investments may not be federally guaranteed or insured and that it is possible to lose money by investing in cash alternatives.

** Diversification does not guarantee a profit or protect against losses.

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