Do you currently have an investment account? Perhaps it’s a retirement stash that won’t get touched until you’re 65 years old, or maybe you just like to dabble in the stock market. Whatever the case may be, you need to learn about yourself when it comes to investing. How profient and knowledgable are you? If you can immediately tell me the difference between mutual funds and index funds, or you know exactly how and when to exercise a ‘naked put’ option, you are most likely well-versed enough to manage your investment accounts yourself.
If you don’t feel entirely certain about investing on your own, it’s not necessarily a bad thing to hire someone to help you out with the big financial decisions in life. There are plenty of services that can help you build and manage your investment portfolio. You just need to be certain that you choose the agent/company that’s best for you.
Sometimes I feel like financial advisors aren’t much of a step up from insurance agents. There are some good ones that truly do care about your future, but in reality, the check you give them for their advice is for their livelihood. In order to get your business, they’re willing to do almost anything! So, it’s of the utmost importance to get to know them well and get a true feel for their motives and interests in you. If you feel like they truly do care about you and will handle your retirement money with care, only then should you pull the trigger.
Are you currently living in the UK? There are a few great financial management companies that will handle your money well. In fact, there is one online investment management company in the UK that has been a standout lately. Nutmeg made an appearance into the world in 2010, and have really made most of their progress as a company lately (2012 and later). They’ll help you with your investments even if you can only muster up a thousand pounds (and in some cases, only 100 pounds per month). You no longer need to be super wealthy to invest with the big firms!
While they do appeal to the “little guy”, they have another huge benefit as well! Instead of just handing your money over and hope that your advisors are smart enough to make it grow for you, Nutmeg will take an understanding of your needs and invest in a way that’s right for you. And, they pride themselves on being 100% transparent with their customers! Now that’s something that you don’t hear very often.
Whatever You Do, Invest!
If you currently don’t have a financial plan for your future, you are doing yourself a huge disservice! Without a plan, you’ll no doubt be spending your elderly days in a run-down retirement home because you have no assets and need the assistance of Medicare. If you’re over the age of 25, you should definitely be looking into an investment of some sort, and if you’re one that isn’t comfortable with financial jargon, you might just want to seek some help from the pros. Good luck!
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.