In the sometimes overwhelming world of finance, finding clarity can be enough to deter even the most dedicated individual.
More often than not, it is easy to get caught up in the figures, and lose track of what exactly it is that you are trying to understand.
Most of us move through our life knowing that we should be smarter with our hard earned money, yet not fully knowing exactly how to do this.
Is there a simple way to make your money go further? There are the obvious changes to consider; cutting back on certain lifestyle choices, or becoming more savvy with your monthly providers.
However, one option that is often overlooked is focusing on the long term, and considering what placing your money in investments can do for you.
What Does it Mean to Invest?
We are often told through various advertisement campaigns that we must invest our money here, or we must place our money there.
Even a simple internet search can provide an abundance of conflicting information, making the decision an altogether more difficult one to make.
The textbook definition of investments, is ‘the action or process of investing money for profit’. This sounds simple enough, yet when we begin to drill down into the intricate details, the entire concept can become a much more complicated one.
From taking some of your money, and placing it into investments which you think will generate growth, you can increase the original value, with minimal effort.
When Should I Invest?
Considering your timeline is an important factor when looking to invest.
The difference between knowing when is best to save your money or when is best to invest, is a key component.
Short-Term Goals – If you know you will need more money within the next couple of years, for example for a new car, a family holiday, or a new kitchen, you may do best saving your money, rather than investing it.
Long-Term Goals – If you are looking more to your future, whether retirement, or for something to leave your loved ones behind, investments should be considered. This is due to the fact that with investing, it is typical to expect better results to be returned within a long-term timeline.
Why Should I Invest?
Investing your money holds many long-term benefits.
First and foremost, you are trying to generate wealth. The process of investing your money can prove a very healthy way of ensuring that this happens.
Secondly, a BBC report details that if you do not start saving money until the age of 45, you will need to save three times as much as that of a 25 year old to gain the same amount of wealth. Investing can be a more viable alternative to this.
Finally, investing your money soundly can provide for generations to come, meaning that you are leaving something to your loved ones that they will appreciate whole-heartedly.
Here at Burton and Fisher, our highly qualified and professional team are here to provide you with investment advice in Morecambe and Lancaster to help you make this important decision.
Making the entire process a much clearer one, we can help provide you with the right information needed to set you on course, and can advise what options may be best to suit your lifestyle.
Contact us today to arrange a no obligation consultation, and see what we can do for you.