I’m new to the investment world. Can you help?
Absolutely. A great place to start is asking yourself four key questions. First, what do you want to achieve? Are you hoping to produce income, grow your savings, or perhaps a bit of both? Secondly, consider your time frame and your risk tolerance. How long do you intend to keep the money invested? Are you comfortable with taking on some risk, or will you have trouble sleeping at night if the value of your investment fluctuates? Thirdly, do you have a lump sum of money to work with, or do you hope to put a bit away each month? Fourthly and finally, ask yourself: is getting involved in the investment world something you want to take on by yourself, or would you like some help? Maybe you’d even benefit from talking through the first three questions with an expert. Investments can sometimes be complex, and in my opinion you may experience better overall results and be more apt to achieve goals if you work with a professional advisor.