Some investors wouldn’t even say that we are living in uncertain economic times when it comes to the stock market. The economy itself is always struggling in today’s world, but the stock market is doing better than ever. That doesn’t mean that it will continue down that road, and it certainly doesn’t do anything for affordability when it comes to people trying to make ends meet and plan for retirement.

Safe financial planning means something different to everyone. Some people would rather keep money under the mattress and not even touch the bank. These people might or might not be good at saying, but you need your saved money to make money if you’ve going to beat inflation and retire comfortably. What type of investments are you going to make?

You certainly don’t have to choose mutual funds, ETFs or individual securities. Yet, you are going to want to be sure that you choose your investments wisely. What about certificates of deposit? The problem with these savings and investment vehicles is that the interest rates for them ranked years ago and really never recovered. The rate you get for a CD now is about what you used to get for a traditional savings account.

It may not be much, but remember as well that you’re dealing with compound interest if you stay the course. Furthermore, you have to remember that when it comes to individual securities, there is always the risk of losing money and not making money. Are you willing to take the risk?

Safely planning out your financial future? it could be perceived that way, but that is really just the first step in identifying your own risk tolerance. Additionally, it’s not just about personal preference but knowing enough to make sound investment decisions based on your age, plans and financial situation.

Younger people can invest in individual securities more safely because they have time on their side. If they lose money, it’s not going to wreck their retirement. Of course no one wants to be spinning their wheels trying to grow a nest egg for retirement. You want to watch your money compound and pull in a nice rate of return.

Your ROI or return on investment might not be as good if you play if safe. However, playing it safe might end up meaning slow and steady wins the race. Investing for retirement is done over the long term, and so you’re going to have many different decisions to make over the years.

How comfortable are you with the investing world? Where are you on the path to planning for retirement? Do you feel you have made any costly mistakes? Perhaps you feel as though you have been playing it too safe. Assess your retirement savings, and decide whether or not you need to be doing anything differently in regards to safe financial planning.