3 Essential Mistakes You Want to Avoid
Financial Investments
3 Essential Mistakes You Want to Avoid When Making Financial Investments
Making successful financial investments often depends not so much on discovering excellent opportunities or taking great risks as on avoiding big investment mistakes. That's why having a financial advisor comes in handy. Whether or not you have an advisor already, make sure you avoid...
1. Getting investment advice from friends, colleagues, neighbours, and other well-doers. In the world of financial investments, free tips and advice are oftentimes unhelpful. Misadvised British investors continue to lose tens, even hundreds of thousands of pounds after basing their investment decisions on tips and advice they get from the people around them. You must always remember that even when the person giving you the advice wants to do you good, he or she is almost never an expert.
2. Failing to rebalance your investments. Every year, some of your investments will outperform their expectations, while others will under perform. To ensure that your investments remain sustainable in the long term, and to balance your portfolio, it's important that you redistribute profits to those projects that you feel confident with even if so far they have not performed as well as you would have liked.
3. Being a timorous investor who is more interested in saving for retirement than in upping profits. If securing your retirement is your main concern, put your money in an off-shore savings account and enjoy the benefit of nice interest rates. But if you really want to make money with financial investments, then you must take some risks: high-end property investments, African investments, fine wine investments, contemporary art investments, shares in biotech companies, Asian and South American mutual investment funds, and so on. You can't get rich if you don't roll the dice from time to time.
To discover exciting investment opportunities in the UK and abroad, contact Compare the Financial Markets today. Our financial experts are ready to assist you.
