Hey gorgeous! Did you find yourself here while looking for the perfect little black dress? A website about money is probably the last place you want to be when you’re thinking about spending it,  however I’d love if you stuck around for a few and checked out how we’re making planning for your financial future fun, affordable and accessible! (And no, we won’t make you feel bad about where you’re spending your money). Have to move on? No problem! Sign up below to get helpful financial tools and resources delivered straight to your inbox. Plus you’ll receive 9 Steps to Workable Wealth, a free guide to taking control of your money. Happy Shopping! Hope to see you around here soon!

Sorry guys, this one is geared towards the ladies. However, feel free to read on for educational purposes. The concept can be applied to your life as well. What your investments have in common with your little black dress (LBD). Have you ever looked at your investments and thought – how am I going to make this work? It’s likely that if you’re a female, you’ve thought this about your wardrobe as well. In my world the two issues can collide and there is something to learn from both. The little black dress is hailed as timeless, elegant, and well poised to remain a wardrobe staple for years to come. Its style can move from edgy to conservative, and it can be accessorized to create different looks and feels depending on the event or your age. Surprisingly, your investment portfolio can do the same. It can be dressed up or down and depending on your age and goals, could be designed to carry you through the years.

Take the Time

Many women spend hours at an early age picking out the perfect blend of fabric, cut and length for their LBD. It’s time that is considered well spent and that results in one heck of a double take from your husband or partner when heading out for a night on the town. It’s time that is invested in order to get the satisfaction of looking and feeling great. The same results can be said for investing in yourself and your future. Starting early and spending the appropriate amount of time to set-up and build your savings and investment portfolio can result in ultimate satisfaction when your goals are met and your retirement is funded. By beginning to put money aside automatically into your company 401(k) or a pre or post-tax savings account, such as an IRA or a Roth IRA, you’ll be setting yourself up to build a portfolio that can turn into a potential income stream that will help you to enjoy your leisurely years.

Accentuate Your Features

Let’s be honest, you bought your latest LBD because you look HOT in it. It’s built to accentuate your best features and that’s just what it does! Depending on the occasion, you can accessorize to obtain the perfect look that matches your unique style. The same concept applies to your investments. You can accessorize (allocate) your portfolio across a spectrum of stocks, bonds, mutual funds, and more depending on the look and goals you’re striving for. A set of pearl earrings combined with a pair of black patent leather shoes creates the perfect conservative ensemble, just as a few appropriately balanced mutual funds could create an ideal investment style. Ultimately, it’s about modifying your investments (and your wardrobe), so that it’s personalized and applicable for you. What looks good on or works for your friend may not be what looks best or is most appropriate for you.

Tailor as Needed

The little black dress will come in a variety of fashions and trends throughout your life as will your investment allocation. You’ll have different investment styles as you grow older and your risk tolerance changes. There will be times when you’ll want to be sexy and bold and other times that may call for an elegant, classic style. You’ll need to occasionally tailor, mend or change your dress completely over time and as your situation changes. Remember to keep this in mind with regards to your investments as well. While you’re setting yourself up with a solid base allocation today, it will need to be reviewed at a minimum of every 6-12 months and updated in order to keep it in line with your overall goals and situation. For example, are you saving for a down payment on a house or simply stocking away funds for retirement? Have you recently gotten married and combined accounts? These are things that will affect the way your money is allocated. In the end your investments may not have that much in common with your wardrobe, but preparing for your future and having a plan to meet your goals is one strategy that will never go out of style.