— are popular for passive investing. Instead of picking individual stocks or funds, an algorithm will choose them for you based on your risk tolerance and goals.
Pedvis adds: "I'm all for them. I think for a segment of the population and the investing population, they're fantastic," "It's a great tool and a great way for people to start and to get exposure to the market," Pedvis says. "But you need to combine robo-advising with some small — it doesn't have to be a lot — amount of homework on your part, just so there are no unhappy surprises."Kristi Rodriguez, Nationwide Financial.
"When I think about millennials, the first question we want to make sure we ask and they're asking themselves is, what am I saving this money for? Because there will be longer-term investments, and that's something they have to think about, whether it's a 401 or anGoals are the backbone of your investment strategy, financial coachsays. Without a clear goal for your money, it's too easy to abandon your plan when things get rough.
"Uncertainty is always a constant and downturns are going to happen, but it's important to know that with market setbacks, that's typically been followed by recoveries, and we never want anyone to try to time the market."