Before investing your money, invest your time
Understanding how and where to invest your hard-earned funds can, at times, be complex and rather confusing.
There are many options open to you, so it’s important to understand which types of investment would be suitable for you and your circumstances.
Investment planning prompts lots of issues to consider, such as tax efficiency and how allowances will affect your investment choices.
Expert NFU Mutual Financial Advisers can offer you practical advice to help you decide what investment solutions are best for you.
Investments – Things to consider
People invest for many reasons, but generally it is to make provision for a regular income either now or later, or for capital growth.
Either way, if you have a lump sum of money or are regularly saving into a bank or building society, the chances are that with interest rates at their current levels, any return is just about keeping pace with inflation.
So, if you have money available to invest, over and above a suitable reserve of readily accessible money in a cash account, other investment options may offer more potential.
Having knowledge and understanding of investments and how they work is just the first step. It's important that you consider your own personal circumstances and goals.
Things to consider:
It is unlikely that there will be a single investment solution for your goals. A combination of investments is likely to be more appropriate, and the mix will change as you progress through different life stages.
There are a number of other considerations for you to understand before making any choices.
The three main areas are: