Investing is based on a simple formula: spend less than you earn and invest the balance.
This is the key to building wealth. When investing there are a couple of key elements:
- Contribute on a regular basis
- Get the right balance between risk and returns
- Check the tax impact
- Don’t put all your eggs into one basket
- Invest on a long term basis.
Setting up budgets is a good place to start in order for you to help take control of your finances.
There are many types of investments. Don’t be confused by the number of different types of investments. They all carry various levels of risk and return.
Investments vary from the very safe to the very risky. All products need to be carefully examined.
For the first time investor, Managed Funds that provide exposure across a number of different asset classes thus providing the benefits of portfolio diversification and convenience, may be a good place to start.
There are also some great advantages in investing in residential property. We take a balanced approach to both shares and property and feel that there can be advantages and money to be made by investing in both. With property you may be able to outperform the market and get good returns. However, there are a number of important factors to consider in this.
What is right for you will depend on your financial needs and strategy. Let us help you through this maze. We can discuss your options and structure your investments accordingly.
Call us on 07 3427 7848 and we can help you set up a Budget planner and discuss investment options to best fit into your long term aspirations.