An investment policy statement or IPS may sound sophisticated but it’s quite a simple tool to help you navigate your investment life. The communicates your investment goals and the strategies that will serve as guideposts for managing your investment portfolio. Are you an investor? If yes, then you need an IPS. Well, you can get by without one, but you can optimize your investing life with one. I’m of the firm view that once you write your goals or plans down, you are more likely to achieve them. Often times, many ordinary people do not consider themselves investors. But do you have a work-related account like a 401(k), 403(b), 457(b) or TSP account? Do you have an IRA/Roth IRA account? Do you have rental (commercial) real estate? Are you consciously preparing for your retirement in the future by doing some investments, even if in taxable accounts? If you answered yes to any of the above, you are automatically an investor,