What Are Common Sense Money Matters?

Brenda Foster| Published| June 21, 2024

Q.
How can I make the right investments?
A.
The simple answer: With the right amount of research and planning
beforehand! The more you plan and research prior to making an
investment, the more likely it’ll be a profitable and stable investment decision. Don’t take the decision making process lightly when choosing investments, regardless of how much you stand to gain or lose.

Ask financial advisors for their suggestions, then go home and look up
those companies, funds, or investments before making a decision.

Q.
What are my best short-term a
nd
long-term investment options?

A.
Long term investments tend to pay off better over time and they tend
to be less risky, which means a lower return on investment. On the
other hand, short-term investments, when used correctly, can turn
around a nice profit very quickly if you’re willing to accept more
risk during the investing process. But of course, greater risk means
a greater return.

There’s no single best type of investment for any one person, which is why shopping around, comparing your options, and doing your research is so essential.

Q.
Will I benefit from hiring an investment advisor?

A.
Many people benefit from working with an investment advisor, but it’s
up to you to decide whether or not these services can help you. When
you’re first getting started with investing and learning the ropes,
having an expert on your side will be especially advantageous.
If you can reasonably afford to hire this type of assistance, then you
should do so, at least for your first couple of investments and until
you feel comfortable doing the research and investing on your own.

Q.
How can I choose the right investment advisor?
A.
Here is another arena where shopping around can really benefit you.
Sit down with several different investment advisors and ask questions
to get a feel for their experience and expertise. Choose an investment advisor that you’re comfortable with, and one that has the training, expertise, education, and certifications or licensure that tell you that you’re making the right choice.

Avoid choosing a brand new investment advisor, as they themselves are just
learning the ropes.