Improving the Odds
It's important to remember that the market can behave in unexpected ways and it's very difficult to predict market events before they occur. That being said, there are some things you can do to improve your chances of meeting your investment goals.
Consider investing more now. If you can invest $30,000 now instead of just $20,000, your odds may improve.
Consider increasing your monthly contributions. Maybe you can't come up with an extra $10,000 now, but if you can invest an extra $200 each month, the likelihood of hitting your target rises.
Consider extending your time horizon. Maybe you can't put in more money at all, but your chances of meeting your goal may improve if you can wait an additional five years before retiring.
Consider a more aggressive asset mix. If you can't invest more money or time, you can try changing your portfolio mix. As discussed earlier, though, it's important to remember that becoming more aggressive requires the trade-off of accepting more risk.
So what's the best solution? Possibly it's a combination of all of the above. You'll need to consider your individual situations and comfort levels when determining your investing strategy.
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