Okay guys – time to roll up your sleeves and start long term investment planning. Success in investment depends less on IQ than the discipline to save consistently and manage risk.  To put it starkly – to be successful in investment, you need to take time and take risk.  In fact, time and risk taking are mutually dependent. Young investors have the luxury of time and the capacity for risk taking than retirees don’t. This is why I often remind undergraduates in my personal finance class to start investing early even if this means taking baby steps. The second thing I ask them is to do is that they should keep a sharp focus on asset allocation because asset allocation has far more impact on their future wealth than decisions about which stock to buy or how to predict short-term market movements.

I will now share an approach to lifetime …