What you need to know to make financial planning services work for you from right here in Perth.
If you are a beginning investor, congratulations. Rest assured that even the most successful investor was a beginner once. The most important thing that seems to separate the successful from the unsuccessful is that most successful investors found the right financial advisors and came up with the right plan. Here are some tips for helping you get started.
Define Your Timeframe and Goals
It can be scary to think about the future because you are entering the arena of the unknown, but the right planning can demystify it for you. It starts with figuring out exactly how much money you want to amass and how long you are willing to wait for it to come to fruition.
After that, the investments are simply a matter of math and you can work with a financial planner to come up with a plan to get you where you want to go in the amount of time you want to get there.
Define Your Risk Tolerance
While your plan will be most determined by your goals, the investments you use to get there will also be influenced by your tolerance for risk. Your risk tolerance will be determined by those goals, but also by factors such as your reasons for investing, your knowledge of the markets, the length of time you plan to stay invested and your personal comfort zone involving risk.
Find Your Best Asset Classes
Once we have determined your goals and your risk tolerance, we can go about determining which asset classes are the best investments for you. Usually this means diverse investments over many platforms.
Call the Professionals
When you are ready to call a professional, talk to Purely Finance. We will work with you and make a firm plan for your financial future. Call (08) 9453 8888 today.