About Create Investment Goals
Investing with an investment goal is one of the best ways to help you save and invest. Defining your goals can increase motivation and discipline while also giving you an opportunity to regularly review your progress and make adjustments. This is especially true when you’re investing over the long term like when saving for retirement or other large goals.
The Investors Centre are many ways to set goals, and everyone’s are different based on their unique financial circumstances. But some common approaches include the SMART method: Specific, Measurable, Attainable, Realistic and Time-bound. Regardless of how you define your goals, it’s important to decide whether they are short-, medium- or long-term and to choose investments with the appropriate time horizon.
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The amount of time you have before reaching your goals will affect the kind of risk you can take and your strategy. For example, if you have a short-term goal, it might make sense to take on more risk to maximize growth and return potential, while a mid-term goal like buying a home may call for a less aggressive approach. And a long-term goal such as retirement or funding your children’s education will likely require saving over 30 to 40 years, which will require a much longer time horizon and possibly lower risk investments.
You can create your investment goals during the onboarding process in the Beewise app or by using the “Investment Goals” section in the Investments Dashboard. Then, you’ll need to decide how to achieve your goals and set the amount of money to invest each month based on the Beewise recommended portfolio for your goal timeline.