Many times when you’re looking to invest, you’re given a list of options – and you may not have an idea what to pick.
If this is similar to what you're going through, you may want to look into age-based portfolios, which have become widely available recently.
Most 401(k) plans have them, as do most mutual finds and 529 college savings plans, including New York’s.
What they let you do is select investments based on your age; then, your money will be invested based on what goals you’re trying to reach.
For example, if you are investing for retirement, in an age-based portfolio, your money will be invested aggressively at first, and then the investments will become more conservative over time, as you approach your retirement age.
If you have your own investment manager, you might not want to have an age-based portfolio; however, if you are investing on your own and aren’t sure where to invest, the age-based portfolio will likely be your best bet.
