Bid farewell to old spending habits and welcome in some savvy ways to save.

There’s no doubt your days can get busy. That’s why it’s important to prioritize saving in a way that’s as easy as possible for your active life. Establish an automatic investment plan for your investment accounts.

A periodic investment plan (PIP) allows you to automatically invest in both your non-retirement and retirement accounts. Investors can contribute regular fixed amounts into your accounts through automatic transfers. Highlighted below are a few compelling reasons to establish or update your plan:

Disciplined Saving and Investment: Set it and forget it. A periodic investment plan fosters financial discipline. By committing to contributing a fixed dollar amount at regular intervals, you ensure consistent savings and investing, regardless of market conditions.

Diversification: Periodic investment plans often involve investing in mutual funds or ETFs. Diversifying your investments across different asset classes and industries helps spread risk and enhances the potential for steady, consistent returns.

Compounding: Earn interest on the money you save and on the interest you earn along the way. Over time, regular investments enable you to capitalize on the power of compounding, which can substantially grow your wealth over the long run.

Appropriate for All Investors: Whether you’re starting out or are further along in your investment journey, this approach is appropriate for all wealth accumulation and distribution stages.

Flexibility: A periodic investment plan, once established, can be updated with changes to cadence, frequency of investment, or dollar amount, depending on your individual circumstances.

Stick to Your New Year’s Resolution

Start 2024 on the right foot and commit to your financial goals by establishing or updating your periodic investment plan. For more information, please contact your William Blair wealth advisor.