Bogleheads:Featured article/Investment policy statement

An Investment policy statement (IPS) is a statement that defines general investment goals and objectives. It describes the strategies that will be used to meet these objectives and contains specific information on subjects such as asset allocation, risk tolerance, and liquidity requirements.

Consider the use of a simple investing plan (see below):
 * For investors challenged by the complexity of an Investment Policy Statement
 * When the investment objectives do not justify the effort needed to create an Investment Policy Statement (more...)