Deciding when to start investing is partly down to circumstances and partly down to upbringing.
It’s no surprise that the children of parents who have invested throughout their working life are far more likely to start early themselves.
You see it’s all about good habits and good house keeping.
Whilst every person is different, there are some overriding principles which any first time investor would do well to stick to.
- Only invest what you can afford to lock away for 5 years at a time unless it’s a cash deposit.
- Be aware of your attitude towards risk and invest in line with that.
- Understand that what might be a great investment for one person may not be for you.
- Always keep an emergency fund (rainy day fund) somewhere which is easily accessible as you never know what’s round the corner!
One way I like to look at investing is by starting with my goals. Goals will vary by person. You might have the goal of having a certain amount saved in time for say your kids going to university. Someone else may have the goal to be able to pay for that dream holiday or luxury car.
So what are your goals?
Have you thought about it?
Have you visualised where you want to be in 5 years, 10 years and 15 years from now?
IMPORTANT : The value of investments can fall as well as rise. You might get back less than you invested.You should only consider these products if you are willing to take some risk with your capital. We will consider whether such products are suitable for you before recommending an investment.
Start by writing down your goals and once you have, click the button below to book your complimentary 15 mins call.