What do you want from your investments?
THROUGHOUT our lives, we will have many different lifestyle and financial goals that we would like to achieve. Although we all have different goals, there are some key goals that we’ll have in common, especially when it comes to retirement.
What do you want from your investments? Supplementing your income? Building your retirement pot?
It’s essential we tailor your investments to suit your goals. To understand your personal investing goals, you need to take into account all the needs and preferences that may shape your financial life.
When setting goals, you are forced to think hard about the various life aspects you care about and how much they will cost in future.
This helps to put your expectations in perspective, so that you can align your savings with future requirements. It also prevents you from underestimating the amount of money you require for the future or being misled about your savings ability.
The simple act of writing your goals down and sharing them with others increases your chances of achieving them. What are your objectives for the money you’re investing? Do you want to accumulate money for a longer-term goal, such as a child’s or grandchild’s university education, or perhaps a comfortable retirement for yourself? You might even have several goals, and each of those goals may require different investment approaches to achieve them. Before you decide to invest your hard-earned money, it is important to fully understand why you are investing and what you want to achieve.
Whatever your personal investment goals may be, it is important to consider the time horizon at the outset, as this will impact the type of investments you should consider to help achieve your goals. It also makes sense to review your goals with us at regular intervals to account for any changes in your personal circumstances.
Investment strategies should often include a combination of various approaches in order to obtain a balanced approach to risk and return. But the real measure of risk is whether or not you reach your financial goals. Maintaining a balanced approach is usually key to the chances of achieving your investment goals, while bearing in mind that at some point you will want access to your money.
When you know exactly what the money is for, the time you have to achieve those goals and your tolerance for risk, you can construct your investment portfolio accordingly. Oliver Mellor Dip PFS, BA (Hons)
Information based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change. Tax treatment is based on circumstances and may be subject to change in the future.
Although endeavours have been made to provide accurate and timely information, we cannot guarantee that such information is accurate as of the date it is received or that it will continue.
No individual or company should act upon such information without receiving appropriate professional advice after a thorough review of their particular situation.
We cannot accept responsibility for any loss as a result of acts or omissions.