Financial goals change as you age, and so do the ways you achieve these goals. The approach you take to achieve your goals should reflect your current life stage and be reviewed with major life changes.
Time horizon is the amount of time you expect to hold onto an investment until you reach your financial goals. It plays an important role in investing. Generally, as you get closer to retirement, your time horizon shortens and it’s likely you will want to take less risk with your investments. Your portfolio should be assessed frequently as you near retirement to ensure the investment products and risk associated with the products matches your life stage and goals.