More now than ever before, women are diving into the world of investing and taking the initiative to understand the best ways to invest to build their long-term financial security.
Did you know?
According to the most recent ASX Australian Investor Study, women account for 51% of those intending to invest in Australia.
Investing may seem daunting, as it involves some risk. Without the right knowledge and guidance, it also can seem very complex.
The important thing when making investment decisions is finding strategic ways to minimise risk and align your risk tolerance with the right investments. This will make you feel more comfortable with your investment decisions.
While keeping your money tucked away in a savings account can seem like an easy and safe idea, you may be limiting the potential for that money to compound over time.
If you want to attain future financial freedom, you may want to consider starting to invest your money.
With the proper guidance and financial education, you can achieve financial freedom. Here are 3 steps to help get you started:
A Woman’s Guide to Investing: 3 Steps To Get You Started
Step 1. Research Your Investment Options
If you want to invest your money, it’s important to take the time to research all your options before jumping into an investment opportunity that may not align with your goals.
Begin by finding out which investment options are available to you. What are the costs and benefits of each? What are the risks?
You may want to consider learning more about the companies that you are looking to invest with. You can do this by reading annual reports to see what those companies are doing now, and what they plan to do in the future.
If you are new to investing, you may also want to seek expert investment advice from a financial adviser, who has access to research and can tailor an investment strategy to your specific financial needs and goals in life.
At Prominent Financial Services, we specialise in Financial Planning for Women and offer a range of tailored and flexible financial strategies with the number one goal:
to help you gain control of your finances and gain a financially secure future.
Step 2. Define Your Financial Goals
Once you have investigated what investment options are available to you, it is time to define your financial goals. This is an important step before you invest your money, so that you can have a clear picture of what you want your investments to achieve.
You can start by making a list of all your financial needs and set yourself a realistic budget. This can help make your financial goals more specific for you.
You may want to consider setting yourself long-term financial goals when it comes to investing, as investing is usually considered a long-term strategy. The longer you have your money in investments, the more your money will smooth out the highs and lows of the market. This ultimately means your money has more potential for growth.
Once you have set your financial goals and begin to invest, it’s important to be patient and disciplined for your financial goals to work. You shouldn’t expect to make a huge profit quickly.
Be open to attractive investment opportunities. Be prepared to take some risks and explore opportunities. Expect to find situations where you may have to take advantage of opportunities you have never considered before.
Step 3. Considering Diversifying Your Investment Portfolio
Diversification involves spreading your money across different assets, such as shares, property, bonds and private equity. Diversifying your investments can lower your portfolio’s risk and provide you with more stable returns. This is because different assets usually do well within the market at different times. This strategy, therefore, provides a better chance of lowering your portfolio’s risk.
By taking the time to review your investments and look for opportunities to diversify, you can feel confident knowing you’re on the right track to investing your money.
When you are choosing your investments, you may also want to consider how they will fit into your overall portfolio and diversification plan.
Want To Start Investing Your Money Today?
Having an excellent investment strategy, aligned to your objectives, will help you achieve your financial goals. If all of this seems overwhelming, there is no need for you to struggle alone. By seeking the guidance of an expert, they will guide you through each step of the process and take the time to understand your goals and help you achieve them.
Prominent Financial Services has provided comfort and peace of mind to our clients as they make life-changing financial decisions and investments.
We continuously innovate and improve the value we add to our client’s situation through expert knowledge, training, clear communication and sound, flexible strategies. Contact us if you are looking for financial advice for women in Adelaide,
