It’s almost Father’s Day – time for dads everywhere to receive new tools as gifts. But you don’t have to be a father to benefit from the skills used for home repairs. These same abilities could be applied to other parts of your life – such as investing.
For example, when you’re starting a home-improvement task, you need to assemble the right tools and materials. The same is true when you’re launching a financial project, such as saving for retirement – except, in this case, the tools and materials you need are the right investments and long-term strategy to meet your goals and risk tolerance.
Also, when you build things, you’ll want to analyze your finished project periodically, to make sure it’s holding up well. As an investor, you should review your financial strategy at least once a year to ensure it still meets your needs. And you may need to adjust it to accommodate changes in your life.
The same type of skills you use for home improvements can be especially valuable – because they can also help you work toward a solid financial structure.