Making the right investments is crucial for growing your assets and generating passive income.
Nothing ventured, nothing gained. But when it comes to investing your hard-earned savings, it pays off to have a well-researched plan.
With the wide variety of investment vehicles available today, it can feel difficult to decide where to channel your money.
Working with a financial planner provides you with a rigorous framework for making the investment choices that best suit your lifestyle needs.
Understand your
Risk Profile
Risk Profile
Your risk profile is an indicator of how willing and able you are to take risks in your investments. A number of factors can influence your risk profile, including your risk appetite and financial situation.
Take this 8-question survey to understand your risk profile better.
Define your
investment goals
investment goals
Why are you growing your money? Perhaps you wish to:
• Save for an overseas holiday next year
• Plan for an upcoming wedding
• Start your own business
• Save for your children's education
• Retire early in 10 years' time
• Be rich one day!
Once you define your objectives for investing, you are able to build an investment portfolio that is personalised for your future lifestyle.
Before putting your money to work,
also consider these 5 questions:
also consider these 5 questions:
1. What Level of Involvement Is Required?
Our exposure to risk changes as we progress through the different stages of life. However, the emotional and financial costs of an accident or sickness are always devastating when it strikes.
2. What's the Timeframe?
The choices we make affect not just ourselves, but those close to us as well. Depending on your situation, you may wish to explore insurance plans that provide coverage for family members.
3. What's the Expected Rate of Return?
Think about this: Would you dare to drive your brand-new car on the road without vehicle insurance? Just like your car, your health and happiness are worthy of protection too.
4. How Does the Investment Affect Diversification?
The choices we make affect not just ourselves, but those close to us as well. Depending on your situation, you may wish to explore insurance plans that provide coverage for family members.
5. Is There a Clear Exit Strategy?
Think about this: Would you dare to drive your brand-new car on the road without vehicle insurance? Just like your car, your health and happiness are worthy of protection too.
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