You're listening to The Word on Wealth Tidbit, where John takes a fun approach to the serious matter of your money.
Do you remember hearing the phrase, "Don't put all of your eggs in one basket?" When investing, this means not putting all your money in a single asset or investment vehicle.
As an example, a common benchmark for diverse stock investments is the Standard & Poor 500 (S&P 500) index, which includes about 500 companies in the U.S. across 11 different sectors. These, however, are all just stocks. You can take this further and diversify your assets with bonds, real estate, precious metals, and more.
Diversification is essential, and time is the critical piece of this. Your investment time horizon will determine your risk and how diverse your investments should be.
Don't run out of money, before you run out of time.
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