Generating Growth
Your Savings plan - Your WHY?
No matter what you do in life, I personally believe your “Why” is really important. It helps to create an action plan and more importantly it helps you take action.
So taking some time to write down Why you want to invest or trade helps to focus your mind on your priorities, helps to create goals which can be translated into measurable and achievable steps (mini goals).
If you’re not sure where to start or need help then please let me know.
How Do You Decide Where to Invest?
The traditional route to investing is usually through a Financial Advisor, which I understand, because at no point during our education are we taught about money, saving and investing and “what does debt mean?”. So the majority of people don’t know what to look for or where to start. If you’re lucky enough to have a relative or friend that can help advise, then great, however not everyone does, so turning to a Financial Advisor is an option. Finding a good one is a whole other story.
I am not a qualified Financial Advisor……….however…….
Choosing funds for longer term investment is not as difficult as it may seem. I taught my wife and Sons to do this and they had no previous investment experience. Like most things in life, new skills are only as difficult as we want to make them. The more we say “I can’t” the less likely we will be able to achieve it.
What is a Fund?
In terms of investing, a fund is simply a basket of assets (usually shares) that is managed by a Fund Manager for an annual fee (typically). There are numerous Fund Managers in the marketplace who operate under a financial company (ideally under the Financial Conduct Authority (FCA) jurisdiction).
There are thousands of funds (just in the UK) from which to choose from, so how do you choose which is the right one to help meet your financial goals?. That partly comes down to your risk appetite…….
Mindset:
I believe you create what you think!. So think positively and most things will become achievable. There will be risks and setbacks along the way, for sure, but that’s part of the journey to where you want to get to. I’m here to help where and as much as I can, as you require.
The key (for me) to achieving anything is to have a plan, and turn that plan into actionable steps. This way I can break down tasks that seem difficult, into more manageable and actionable steps. The other thing I do is to ensure the plan is realistic in terms of goals and timeline. Having spent most of my career in the corporate world, the number of companies that just get this wrong is astounding. They end up wasting a lot of money because the plan is not realistic.
So take some time to fully understand your goals, and then come up with a plan (high level steps). Once you have this you are then able to break down each high level step into more manageable bitesize steps (the size of these steps will be personal to you).
