Most investors typically fall into one, if not both, categories.
1) Wealth Building
If you are still working and your timeline to achieve financial independence or retirement is 5 years away or more, then you are in “Wealth Building Mode”. In this case, you should try to invest in individual stocks to help accelerate your wealth-building process. Tykr’s job is to help you find safe value stocks that can build your wealth and avoid weak speculative stocks that can lose your money.
2) Wealth Protection
If you are at or near financial independence or retirement, then you are in “Wealth Protection Mode.” In this case, you should try to invest in Index Funds, ETFs, or Mutual Funds. Essentially, bundles of stocks.
Pro Tip: No matter if you are in wealth building mode or wealth protection mode, we still recommend you speak to a financial advisor or wealth manager, as they may have additional strategies to protect your wealth, preserve your wealth for future generations, help you save money on taxes, and more. It’s always nice to have a human to speak to who can help with the details.