Create an Investment Portfolio in Your Early to Mid-30s

Even though you may be juggling the expenses of family, mortgage, credit cards and monthly budgets, it pays to sock some money away in investments.

Set goals. If your objective is retirement, calculate how much you'll need vs. how much income you'll have (pension plan, Social Security, other) when you retire.

Choose a strategy that will enable you to meet your goals. This may entail meeting with a financial adviser, doing some research, reading personal-finance magazines and investment guides, and paying attention to the stock market.

Take advantage of your employer's 401(k) plan, investing as much as you can in it. If you're self-employed, set up a Keogh plan (similar to a 401(k)). If you have neither a Keogh nor a 401(k), set up an Individual Retirement Account.

Start saving a part of your investment income for your children's college years. Some mutual funds offer plans especially oriented toward college savings.

Put retirement funds in conservative investments at first; for example, mutual funds that buy a variety of blue-chip stocks. After you have a solid foundation, add higher-risk investments.

Diversify. Don't put all your money in single stock or a single industry. If you're investing in mutual funds, you might put 40 percent of your money in growth funds, 20 percent in aggressive growth funds, 20 percent in tax-exempt bond funds and 10 percent in money-market, checking and savings accounts.

Resist high-interest debt. If you can refinance your mortgage at a lower interest rate, weigh the costs and benefits; also pay off credit-card debt.

Stay the course. Avoid shifting your money in and out of the market. Over the long run, the stock market has gained an average of 10 percent a year.

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