We have put together some basic tips to grow your investments:
1. Know your tolerance level to risk
Be completely honest with yourself (and your financial adviser) about your risk tolerance; discovering that you can’t stomach the volatility when the market falls 20%, is the very worst time to discover this and might have serious consequences for your financial stability.
Risk tolerance is the capacity to endure losses when assets underperform. If your risk tolerance is poor, you will invest cautiously. Knowing your risk tolerance assists in creating an appropriate game plan.
Through our app, WealthPlatform, you can see your current risk level, take a questionnaire to assess your attitude toward risk, and understand what to expect based on your results.
2. Have a plan
Planning an investment portfolio gives your financial decisions, purpose and direction. It enables you to comprehend how each financial choice impacts various financial variables. You may take into account the short- and long-term implications of financial decisions on life goals by looking at each one as a part of a wider picture.
Without a plan, you also risk falling for the latest trends or ‘the next big thing’. This could result in making bad investment decisions that cost you in returns.
To help create your plan, you need to ask yourself questions like, what you are saving for, and what your priorities and timescales are.
At Advisa Wealth, our advisers use a structured six-stage process to ensure the financial plan we help you to create is tailored to your requirements and is flexible enough to be adapted as circumstances change.
3. Work with an expert
Top athletes work with coaches, so why wouldn’t you work with an investment specialist?
Having a financial adviser by your side may help you safeguard and grow your assets, maximise your investment returns, and preserve your family’s long-term future wealth.
Even after your assets have been put in place and are performing as expected, you should continue to keep an eye on them in case market changes or atypical occurrences cause them to veer off course.
Your financial adviser will keep a close eye on your money. They will help you to compare your performance to that of your peers, make sure your asset allocation is not affected by market fluctuations, and consolidate your profits when the deadlines for your ultimate goals approach.
Whatever your objective regarding your investments, our financial advisers can help you determine what is practically feasible, and work with you to develop a strategy to help you reach it.