The most important tip for intelligent investors
If you want to be an investor, the place to start is with a long, hard look at yourself. What you see will be the start point for understanding the kind of investments you should get involved in…
So, you have some money to invest, and you’re wondering what to do with it? Well, stop right there.
Before committing any money to anything, you need to ask yourself an important question about yourself. How do you feel about risk? Do you live life on the edge, thrilled by danger? Or do you live in the cautious lane; never leaving home without a brolly and a spare hanky?
Those are extremes, but illustrate the point about investing. You need to know how risk-averse you are. If you like risk, you’ll probably go for an investment that might deliver a bigger return, but could just as easily have a negative result. If you’re cautious, you’ll want guaranteed growth, even if it’s small.
The best way to invest money is with the help of a qualified independent financial advisor, someone who understands markets and money, and can point you in the right direction with investments that match your risk profile. And because he or she is independent, they have no hidden personal agenda.
And to make sure you have sufficient funds to invest, manage money with an expense management app that will help you to gather receipts and reports and record your mileage expenses, all of which will make sure you don’t waste money through unnecessary spending.
That’s why, for smart investors, being diligent about the use of smarter expense management tools can pave the way for financial gain – both day-to-day and in the longer term.