If you’re new to investing and looking to start, here are some top tips to be aware of, so you can make the best decision for you. As investment advisors, we aim to impart as much knowledge as possible, so that you are fully aware of your needs and goals and how you can achieve them.
1. Think long-term
You don’t have to have hundreds of thousands to make an investment as many may think. If you are looking to make an investment, monthly payments are often allowed, which can break down large costs and make your investment much more reasonable. One aspect to consider is that once you invest, your money will be tied up, so only invest if you know you can comfortably afford it.
2. Think about your investment
Whatever you are hoping to invest in, there are always risks. However, these risks could eventually bring you great benefits. If you invest in gold, for example, you’ll certainly be guaranteed a good return when the time comes to sell. The price of gold generally rises and is regarded as a safe investment. Buying property may also be considered as low risk, as you can rent out your properties and sell them on when property prices rise. Try and avoid investments which are high risk, especially if you have a lot riding on your decision. High risk investments may include buying into shares, where you may be at risk of losing up to 90% of your investment.
3. Draw up a plan
If you are still unsure of how to go about setting up your investment, it may be worth creating an investment plan. By doing this, you can ensure the product you are investing in is a good choice and is a manageable investment. Start by working out the low-risk products and then move up to medium risks and higher risks to gain a clearer insight.
4. Hire a financial/investment advisor
If you believe you are in need of some extra help, you could always turn to professionals to assist with your investment queries. They will be able to provide you with information on whether or not your finances and circumstances are suitable for your investment and any risk factors that may come with investing in particular products.
Want to find out more? Contact www.stablerise.com for further information on hiring an investment advisor today.