Buying a car. Helping your kids to get a good education. Enjoying a rewarding retirement. It’s important to plan your goals whenever you invest.

Without a plan, it’s easy to get distracted. You can end up trying to time when to buy or sell, chasing market returns, and missing out on long-term gains.

With a plan, you always know where you’re heading. That way, you can stay focused on your future goals.

You can spread your investments across a wide range of assets.
You can choose whether you’re aiming to track or beat the markets.
You can rebalance your investments regularly to stay on track.
And, you can make sure you don’t pay more in investment fees than you need to.

You’ll have a better chance of achieving investment success if you keep your eyes on your goals at all times.

Key takeaway: Define clear goals, be realistic about constraints, and focus on what you can control, like your investment plan and risk tolerance.