Plenty of people tell me, “I’ll come and see you when I have money to invest!” Great!! (Mostly, I’m still waiting…)
So how much does it really take to start investing?
Truth is, you really don’t need a lot. Some start with a small lump sum and others put small amounts away regularly. It’s really what’s best for you.
The best advice I can give you for free… is to start! Then keep adding to your investments regularly.
You’ve probably heard it before, but remember – don’t put all your eggs in one basket! And, the higher the earnings or return you expect from an investment, the more risky it’s likely to be. Investments that offer lower returns are generally less risky.
A financial adviser can assist in working out your risk profile – that’s the level of risk you’re comfortable with, and that can depend on what you’re investing or saving for. You may have a much higher tolerance for volatility for your superannuation or retirement funds than you would when saving for the deposit on a home.
Advisers are also qualified to assist when you’ve had an inheritance, lost or divorced a partner or had a major change in circumstances.
Sit down and work out your personal budget and see just what’s left each pay period that you can use to either bring down debt or start your savings plan today! If you don’t know where to start, an adviser can definitely assist. So stop putting it off and waiting for the magic to happen… chances are you’re more likely to get ahead by starting, than waiting.