money-hacks on Nostr: There are 3 questions that need to be answered before starting your investing journey ...
There are 3 questions that need to be answered before starting your investing journey
And the important part to it - YOU are the only one who can answer these
INVESTMENT STAGE
Are you currently accumulating assets or looking to preserve these?
You will want to find a safer investment strategy in preservation stage
Accumulation stage normally comes with acceptance of higher risk levels
RISK TOLERANCE
This point is always personal to you and only you!!
No one will be able to say how much risk is right for you
Making sure you sleep well at night is more valuable than getting an extra percent or two growth into your investment account
TIME HORIZON
Before investing - decide when you plan to retire or reduce your active source of income
This is one of the key metrics to be aware of
As you are getting to the end of your investing journey often it is advised to start reducing the amount of risk you accept
Once you know the answers to the 3 questions above - don’t delay the start to your investing journey
Learn more on how to invest below
https://money-hacks.co.uk/index.php/2023/01/26/how-to-start-investing/
And the important part to it - YOU are the only one who can answer these
INVESTMENT STAGE
Are you currently accumulating assets or looking to preserve these?
You will want to find a safer investment strategy in preservation stage
Accumulation stage normally comes with acceptance of higher risk levels
RISK TOLERANCE
This point is always personal to you and only you!!
No one will be able to say how much risk is right for you
Making sure you sleep well at night is more valuable than getting an extra percent or two growth into your investment account
TIME HORIZON
Before investing - decide when you plan to retire or reduce your active source of income
This is one of the key metrics to be aware of
As you are getting to the end of your investing journey often it is advised to start reducing the amount of risk you accept
Once you know the answers to the 3 questions above - don’t delay the start to your investing journey
Learn more on how to invest below
https://money-hacks.co.uk/index.php/2023/01/26/how-to-start-investing/