How To Be Your Biggest Investor
Never make the mistake of thinking you need extensive financial and industry knowledge coupled with years of experience to invest in yourself.
Ester Ochse, Product Specialist at FNB Financial Advisory says, “There is no better time to learn about investing than now.” You can invest as long as you’re willing to stay in it for the long term and match your risk appetite with the ideal investment choices. “Even if you invest a small amount on a monthly basis, making the right investments will help you grow your money,” adds Ochse. Investments empower you to make informed decisions about your financial future and just by understanding the process, you are one step closer to achieving your goals.
Here’s how to do it:
Research and ask for investment advice from a qualified and trained professional
The market offers different types of investment options and choosing a suitable product may be daunting for the novice investor and can influence your investment decisions on all levels.
Patience, resilience and commitment are needed through your investment journey
It’s about you; your needs and wants. Starting an investment portfolio, be it big or small, requires some form of commitment and, most importantly, you need to have a goal in mind before starting to invest.
Have a goal
People often start investing without having established the reason or aim. Having a goal will deter you from making impulsive decisions such as selling to use the money for something else. It’s important to stay focused on the end goal; if your aim is to stay invested for five years, then it’s best to remain committed to that term.
Have a clear investment strategy
This helps in setting goals and timelines. It also helps you to understand your risk appetite and the amount that you can afford to put away.
There are risks associated with investing, but if done correctly the rewards will be great. Attitude and tenacity are key in driving your investment goal and at the end of the day, you are investing for yourself and your future.
Source: FNB. Image: Pixabay