How do I get started with investment?

Thinking about pursuing an investment strategy to help solidify your financial future, but unsure of where you might begin? Here are a few pointers and pieces of advice that should hopefully help you out in getting started. Read on, and begin your investment journey?

Think about what you want to get out of an investment

Whether it’s a long-term retirement plan, a diverse portfolio that keeps your money secure, or just another venture that you’re interested in learning about, you should try and think about your reasons for wanting to invest in the first place. Try and visualise where you want to be in a year, or five years, as a result of investing, and this should help to ensure that every decision you make is headed in the same positive direction.

You should also take this time to weigh up your current commitments, the amount of capital that you have available to put into an investment, and how much you can afford to be without for a prolonged period. Investment isn’t without its risk, even if there are some lucrative returns to be made! Still, it doesn’t hurt to do some research, so maybe start there if you haven’t yet made up your mind.

Think about which type of investment might be best for you

Investment is quite the broad spectrum, and there are a ton of different asset classes you can put your money into, depending on a myriad of different factors – such as how much capital you have ready to invest, and whether or not you think the strategy is right for you. You should do some research on some of the different markets, assess the volatility of different asset types, and think about what you feel most comfortable with.

Example – Looking at buy to let property investment as an example of a long-term, stable investment type, many choose this due to the fact that you can make a consistent income from the rental yield payments that come from tenants living in your property, something that other investment types don’t provide. RWinvest offers a whole host of information on this investment type, and even in a podcast format, so if you want to learn more, then you should look there!

Another thing that you want to consider when investing is how much time you can comfortably allocate and focus in on each strategy, when weighed up against your regular day job and commitments. If it comes to it that you don’t have the time to micro-manage your investments, then it might be worth going with something a little more laid back, or something that can be handled on your behalf.

Get advice if you need it

As a general closing piece of advice, don’t be afraid to reach out for advice and help if you need it; there’s no harm in getting an external opinion from a professional to ensure you’re making the right decision for you. At the end of the day, only you know if an investment decision is right or not for your personal situation, but sometimes it can help to get an outsider’s perspective.