The term of tax requirement There are basically two types of retirement savings account with the first type. You pay tax today on money you earn... The four key areas that must be addressed in formulating an investment strategy or policy are investment management, market timing, asset allocation and security selection. Investment management involves deciding whether to manage your investments yourself or hire someone else to do it. Market timing refers to the decision of buying and selling investments based on future market movements. Asset allocation is the distribution of your investments across different types of assets.