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Goal-Based Investing
Goals-based investing is constructing an investment portfolio with characteristics that are geared to helping the investor achieve specific aims, which can be focused on future requirements or lifestyle choices (generating income, funding a pension or a child’s education, generating funds for inheritance purposes). It is an approach to investing whose focus is on how the goals can be met rather than on focusing just on beating performance benchmarks. Goals-based investing incorporates aspects of behavioural finance.