Tips for the long term investor
Investing can be tricky, especially if it’s your first time.
Exactly how, where, and with what do you start?
To grow your wealth in real terms you’ll need to take some risks. Here’s the crux of it – only take as many risks as you need to. Make sure you think ahead, so that if and when losses do occur your wealth creation strategy is well prepared for them.
Choosing the right investment for you
When creating your investment plan you should also consider your appetite for risk. The way you manage your money is going to be different depending on your stage of life. After all, someone in their 20s or 30s, with less financial assets than someone in their 50s, and a longer time before retirement, should invest with a balance of risk and long-term thinking in mind.
Someone approaching, or already in, retirement would be thinking more conservatively – where they rely, to some degree, on their accumulated savings to fund their lifestyle.
A critical lesson, from a financial planning perspective, it to make sure you take a diversified approach. This can be through spreading your money across a combination of asset classes such as cash, property and shares, or by choosing a fund which itself is diversified across asset areas.
And the best tip of all?
Seek advice from a professional.
Investment markets are dynamic, and keeping on top of all the information you need in order to make good decisions is not easy. Do you really want to chance it with advice from an unskilled friend, or someone who can’t give you the best advice services?
When it comes to planning your future, you want the confidence and the means to be able to create financial security and certainty. A StatePlus financial planner will help you to take control of your investments with your best, long-term interests at heart.
Make the decision that’s right for you, call 1800 620 305 today.