State of Michigan 401(k) and 457 Plans

Design a Long Term Investment Strategy

Most likely, your primary long-term financial goal is to accumulate money for retirement. That's the main focus in this section, although the process of designing a long-term investment strategy as outlined here can be applied to any kind of investing goal.

Basically, there are four things you need to do:
  1. Establish your investment goal
  2. Determine what percentage of your salary you need to save to hopefully reach that goal
  3. Select your investments
  4. Monitor your plan on an ongoing basis

If you're ready to start, the first step is to establish your retirement goal. In other words, how much money do you need to accumulate?