While we will do everything we can to make your investment road trip an enjoyable one, there are some steps you need to take in preparation.
First off, you need to understand what sort of investor you are. You may not know it, but you have a money personality. You will have your own attitudes about money, tolerance for ups and downs in the value of your investments as well as your own expectations. The more we can find out about you, the more we can tailor our investment solution to your unique needs.
You also need to take the time to understand both the benefits and the potential risks involved in investing. Even the simplest of investments comes with a level of risk. Risk is a normal part of investing, and without it you may not get the returns you need to reach your goals. Different types of investments have different levels of potential return and risk. Generally speaking, the value of assets with higher risk (such as shares) will rise and fall more often, and by greater amounts, than lower risk assets (such as cash or term deposits.) By understanding that ups and downs will occur, you’ll be able to resist reacting in the wrong way, at the wrong time. This will help keep you on the right road.