How do you feel about making investments? Do you think they’re worth it? Investment is all about risk, of course, and you’ll have to live with the fact that sometimes the cards won’t turn up in your favour! Why would you put any money into something that could lose you all? Because usually, the risk is all part of the money potential here, and can even be exciting sometimes.
But before you throw the last of your savings at an investment, thinking it’s a guaranteed thing and you’ll benefit for years to come, stop for second thoughts for a moment. Is that investment you’re planning on putting all of your hopes into truly worth it? Let’s go into a little more detail about this below.
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Is There Something More Secure to Do with Your Money?
It’s a quick point, but an important one: is there something better to do with the income you’ve earned? There could be, so make sure that you’re not investing the last of your money, and you’ve still got something to spare after you’ve put cash into an investment portfolio.
After all, a savings account is a pretty safe bet, and being able to rely on an emergency fund for you and your family is always going to be in your interests.
Can You Take Out Insurance?
Take a business as a good example here. If you want to take your side hustle to the next level, you’re going to need to think about insurance. After all, there’s quite a few types out there, and knowing if they’ll be of use to your company’s longevity is key.
It’s why knowing where a basic and/or cheap policy can be found. Look at sites like one sure insurance to help yourself play the field, and find yourself a liability or commercial policy that could cover all of your assets. You have a home or small business, so it shouldn’t be too much to protect your investment here – it’s much safer, much smarter, and ensures you’ll have a business for years to come.
Know the Potential
Potential is something the stock market has in droves, and it might just be the best way for you to ensure there’s going to be at least some kind of return on any money you put into it. After all, people have been experiencing about 10-15% of a return since the stock market was first levelled, and if that sounds like a good beginning investment to you, it’s because you can recognise potential!
Even small amounts of money could add up, as long as you invest them for long enough and know when and where you should invest. At least £20, put into an investment account per month, could very well guarantee you a medium return.
Investments are always going to carry risk, and the higher the risk, the higher the chance of a return. But make sure you know where your money is going at all times.
*this is a collaborative post