1100 13th Street, NW, Suite 1000Washington, DC 20005202.887.6400Toll-free: 800.544.0155
All Contents © 2020The Kiplinger Washington Editors
See All Authors »
Investment Adviser Representative, Investment Management Group
Phone: 877.731.9955 E-mail: info@plansmart.net www.imgplansmart.com
Philip Detlefs is an Investment Adviser Representative with Investment Management Group in Jacksonville, Fla. He joined the independent, family-owned firm in 2001. Philip has passed the Series 7, 63 and 66 securities exams and is a licensed insurance professional. He takes a comprehensive approach to wealth management. He received his bachelor's degree in finance and marketing from Florida State University. He is married and has three children, Olivia, Harry and Hutch.
Investors can get wrapped up in comparing their portfolio's performance to the wrong measures of success, but giving too much weight to arbitrary benchmarks can steer them into making some risky moves.
See More From: Building Wealth
When stocks take investors on a roller-coaster ride, the urge to do something grows, because you certainly don't want to miss out. What you should be doing is taking a close look at how much risk you're taking.
Building a secure income plan — including an investing strategy and a withdrawal strategy — is easier if you identify your main objectives first.
There comes a point when assuming additional risk doesn’t mean additional benefits.