Five investment tips

To grow your wealth you need to invest your money wisely. Here are five tips to get your investing started:

1. You don’t need to be rich

Contrary to what some believe, you don’t need to be rich to invest. You can start by investing a small amount like £50 a month and then increase this as your wealth grows.

2. Don’t be a gambler

Investing can be risky, unless you stick to high street bank and building society savings accounts, but they pay little interest. Don’t be a gambler by putting all your wealth into high risk investments. Most knowledgeable investors have a diverse portfolio that mixes high and low risk investments.

3. Choose the right funds

There are numerous investment funds and research is needed to find the best one for you. Many funds specialise by investing in different geographical regions or business sectors. Some have ethical rules and will not trade in tobacco or armament companies.

Examine the past performance. If a fund has done well then it may be more likely to do well in the future, but of course past performance is no guarantee and invested funds can decline as well as increase.

4. Invest regularly

If you invest all your funds as one lump sum then you may risk investing at the wrong time when the market is volatile and could drop. It might be better to invest smaller amounts but at regular intervals.

5. Get wealth management advice

Not many people are investment experts which is why it makes sense to seek expert professional financial advice.

At Endeavour Financial Planning we help people in the Wirral region define their financial goals. We formulate wealth management and investment plans that can both protect and grow your wealth.