It’s certainly never too late or too soon to take a serious look at investing. “The early bird catches the worm” is a saying I recall my grandmother telling us as kids.
You’ll never have enough money for now, as sure as there was always a bigger kid in the playground or someone who could run faster or throw a ball further when we were kids. There may, however, be a possibility that regardless of how tough times may be, there’s a little we could spare and instead put that towards our future security.
Laying the foundations for wealth and investment growth
More important than how much you get started with, is getting the principles right from the beginning. What are your investment objectives now and how will they change in the future? Can you afford to take on more risk more today for a greater return tomorrow. Should the objectives of your investments be to grow your wealth or create a supplementary stream? What sectors and companies should be part of a bespoke investment plan that considers your goals and ambitions?
Building a legacy for the children
If your objective is the wealth and prosperity of your children or grandchildren upon some future date, you may wish to establish a portfolio to mature upon their retirement or graduation from high school. This may mean that you invest in a portfolio with long term growth in mind, utilising assets that are growth focussed and likely to outperform in the long run.
Protecting the retirement nest egg and sustainable income
Security through the protections of diversification and balancing your investment portfolio, with a manageable risk profile may be more important to you if protection of your nest egg and return of sustainable income are your current objectives, rather than portfolio growth. Returns may be more modest but also more dependable.
As we go through our life stages our objectives change. At whatever stage you are at, Maxim Financial Advisors have appropriate advice for your investment goals. As you journey through these life stages, we are happy to revisit your risk profile through ongoing portfolio reviews to course correct and fine tune as necessary.
If you’d be interested in a discussion on your investment goals or an investment portfolio review, please contact us today. We would love to hear from you.
This article reflects general views and opinions of Maxim Financial Markets Limited at the time of publication. Nothing within the article should be relied upon as a basis for making any investment decision. Please contact us to seek specific investment advice before making any investment decision. A Financial Advisor disclosure statement is available upon request.