Plan Your Investment

Making an investment plan involves more than having a savings account or just choosing a few stocks to put money in.

In order to structure a plan that is right, it is important to understand where you’re at and what you want to accomplish with the investments.

The first step in making an investment plan for the future is to define your present financial situation.
You need to figure out how much money you have to invest. After all, the ultimate goal is safety, income, or growth.

The good news is that it is never too late to create and implement a personal investment plan.

Reasons Why you Should Invest

Money is something most people fantasize about: if only financial independence became a reality, then life would be easier and more fulfilling.

The two major ways to generate money is by earning an income or by growing your assets through investments.
Outlined below are some reasons you should invest:

• Save for retirement: As you are working, you should be saving money for retirement, so that at retirement, you can live off funds earned from these investments.
• Potential for better returns: Investments give you the opportunity to aim for stronger returns than you’d get simply keeping your cash in a savings account.
• Choose a level of risk you’re comfortable with: The more risk you’re willing to take on, the greater the potential returns, but you can mitigate risk, by diversifying your investments across a range of assets.
• Diversify: The saying ‘don’t put all your eggs in one basket’ certainly applies to investing. Diversify your portfolio with various asset classes such as Stocks, Treasury Bills, Bonds, Eurobonds, Agriculture, Wealth Cash available on Wealth.ng.
• Support others: Many investors like investing in people. As a Philanthropist who wants to do good by giving back to the community, returns from your investment can be used to help others achieve their goals.
• Reach financial goals: Investing can help you reach big financial goals. Earnings from your investment can be used to fund major financial goals, such as buying a home, buying a car, starting your own business, or putting your children through school.

All the best!