Continuing my thoughts that I first posted a couple of weeks back, here’s a must-read from Morningstar on the long-run: “When the long-term doesnâ€™t pay off.”
I love the advice given at the end:
For equity investors, the importance of a long-term investment horizon cannot be overstated. However, it should be understood that the long-term horizon in isolation, doesnâ€™t add up to much. Among others, investors must also select funds that are apt for them, monitor their progress at regular time intervals and take corrective action, if and when required. In the other words, the key to achieving financial goals lies in making informed investment decisions and doing so consistently over the long haul.