Most investors put a heavy emphasis on stocks at an early stage in life and gradually shift toward bonds or stocks of stable firms that pay high dividends later in life.

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This strategy is known as the "life-cycle" investment strategy, where younger investors typically seek higher returns and are more willing to take risks with stocks, while older investors often shift towards bonds or stable, dividend-paying stocks for more predictable returns and lower risk.

Most Investors Put a Heavy Emphasis on Stocks at an Early