Thandomilly
New member
To understand how to invest, you must first determine your investment goals, when you need or want to achieve these goals, and your risk tolerance for each goal.
Long-term goals: The common goal is usually to retire, but you can also have other goals: Do you want a housing down payment or tuition? Are you buying the holiday home of your dreams or taking an anniversary trip in 10 years?
Short-term goal: This is the holiday next year, the house to buy next year, the emergency fund or your Christmas piggy bank.
Decide how much help you need
Once you know your goals, you can start to delve into the details of investment (from choosing the account type to the best place to open an account, to choosing investment tools). However, if the DIY route doesn’t sound like your cup of tea, don’t worry.
Many savers prefer someone to invest for them. Although this used to be an expensive proposal, today it is very affordable-even cheap! -Due to the emergence of automated portfolio management services (also known as robo-advisors), hire professional help.
These online consultants use computer algorithms and advanced software to build and manage client portfolios, and provide everything from automatic rebalancing to tax optimization, and even get human assistance when you n eed it.
Long-term goals: The common goal is usually to retire, but you can also have other goals: Do you want a housing down payment or tuition? Are you buying the holiday home of your dreams or taking an anniversary trip in 10 years?
Short-term goal: This is the holiday next year, the house to buy next year, the emergency fund or your Christmas piggy bank.
Decide how much help you need
Once you know your goals, you can start to delve into the details of investment (from choosing the account type to the best place to open an account, to choosing investment tools). However, if the DIY route doesn’t sound like your cup of tea, don’t worry.
Many savers prefer someone to invest for them. Although this used to be an expensive proposal, today it is very affordable-even cheap! -Due to the emergence of automated portfolio management services (also known as robo-advisors), hire professional help.
These online consultants use computer algorithms and advanced software to build and manage client portfolios, and provide everything from automatic rebalancing to tax optimization, and even get human assistance when you n eed it.