Empower Blog

December 19, 2023

Jump-start Your Investment Plan for the New Year

Financial Planning, Investment Education

As the year comes to a close, it’s the perfect time to reflect on your financial aspirations and steer your financial future in the right direction. The new year offers an opportunity to start or re-evaluate your investment plan. Financial resolutions are more than just wishful thinking -- it’s about creating a plan and then taking actionable steps to secure your future.


Here are six steps you can use to kickstart your journey to financial success in the new year.

1. Identify Your Investment Goals

Whether it's saving for a dream home, ensuring a secure retirement or funding your child's education, clarifying your investment goals lays the groundwork for a purposeful and tailored financial strategy. Writing out your goals serves as a guide for your investment decisions, ensuring that each financial step taken is a meaningful stride toward your aspirations.

2. Understand Your Risk Tolerance

Understanding your risk tolerance is crucial to finding the right rhythm for your investments. Risk tolerance is the amount of market volatility and loss you’re willing to accept as an investor. As you begin a new year, take the time to understand how comfortable you are with financial risk. Here are a few questions to help you understand your risk tolerance:

  • What are your investment goals and the timeline to achieve them? This can help you understand your time frame and how much money you will need. Generally, the more time you have to invest, the more risk you can tolerate – or the more risk you can take to allow your investments to recover from a loss.
  • How comfortable are you with short-term loss?
  • Do you have an emergency fund? Regardless of risk tolerance, it’s advisable to have savings set aside that you have access to at any time.
  • Do you plan on tracking your investments day-to-day, week-to-week or semi-regularly? Investments can vary greatly, so consider your emotional and financial capacity to market fluctuations.

3. Educate Yourself About Investment Options

Make it a priority to expand your financial knowledge by staying up to date on the market and other financial news. Dedicating time in learning about topics like investment strategies, tax implications, and improving your financial literacy can empower you to make more informed decisions. Educate yourself about stocks, bonds, mutual funds, and other financial instruments. Understanding the intricacies of these options equips you with the knowledge needed to make informed decisions, empowering you to navigate the dynamic and evolving world of investing.

4. Invest Regularly

Building wealth from investing is a gradual process, which requires consistency. In the new year, make a steadfast commitment to invest regularly. Establish a routine of contributions to your investment portfolio, whether it's monthly, quarterly, or annually. This disciplined approach not only harnesses the power of compounding but also instills financial consistency, laying a solid foundation for long-term financial well-being. Regular investing is a key to unlocking financial resilience and achieving your goals. Once you master the habit of investing regularly, you’re less susceptible to making emotional decisions, and you’ll be on track for the future that you desire.

5. Be Patient and Don’t Chase Performance

The allure of quick gains can be tempting, but in the realm of investments, patience is a virtue. It’s important to approach the new year with a commitment to long-term growth. Avoid the urge to chase performance or make impulsive decisions based on short-term market fluctuations. Patient investing allows your portfolio to outpace market cycles and capitalize on the power of compounding, ultimately leading to more sustainable and substantial financial success.

6. Seek Advice from a Wealth Professional

Advice from an experienced financial advisor can provide valuable insights tailored to your unique situation. Their expertise can help you craft a comprehensive financial strategy, aligning your investments with your goals and risk tolerance. They can guide you through the market ups and downs and encourage you to stay on track to your goals and not give into your emotional investing temptations. A collaborative approach ensures that your financial decisions are well-informed and guided by a seasoned professional, setting the stage for a successful and prosperous financial journey ahead.


As you take the step towards a brighter financial future this year, whether it’s re-assessing your financial goals, starting from scratch, or are interested in a second opinion about your investment plan, schedule a meeting with a Wealth Management by CommunityAmerica Wealth Advisor today and begin the path to financial peace of mind.

Was This Article Helpful?
1 of 1 people found this article helpful
About the Author
Jordan Rehagen
Jordan Rehagen

Wealth Management by CommunityAmerica

At the heart of my practice is understanding your ‘why’. This enables us to work together to shape a financial strategy that aligns with your unique needs and aspirations.

Securities and advisory services offered through Copper Financial Network (Copper Financial), LLC, Member FINRA/SIPC. Copper Financial is a SEC registered investment adviser. Copper Financial is a wholly-owned subsidiary of CommunityAmerica Credit Union. Wealth Management by CommunityAmerica is a marketing name used by Copper Financial. For important disclosures from Copper Financial, including our Form CRS, please visit here. Investment and insurance products, including annuities:


Are Not Deposits

Are Not NCUA or otherwise Federally Insured

Are Not Obligations of or Guaranteed by the Credit Union

May Lose Value