What kind of investor are you?
There are many different types of investment available. However, like anything some types are more suited to different types of people. Choosing the right investment for you is often about deciding what kind of investor you are and what is best suited to your particular needs.
The beginner
This kind of investor is someone just getting started. Typically you may not have considered investing money before or simply not felt confident enough. In this instance, it is vital to do your research and make sure the people offering you advice have your best interests at heart.
The confident investor
You have had experience of investing money and you feel confident about what you are doing. The chances are you have invested in the latest software, check all the latest trends and read all the news.
In this instance, you need an adviser who will look at your investments and tell you what is more effective. While you may be confident it does pay to listen to advice and think about what you are doing.
Thinking long term
In this instance you are more likely to consider saving accounts for your children, bonds and other low risk forms of investment. There is nothing wrong with wanting your money to be secure. However, in this instance an adviser may suggest adding something slightly higher risk in order to add to your portfolio.
There are also people that have specific long term plans. It may be you want to buy a house, retire at a certain point or achieve a long held goal. Whatever it is you should discuss this with an adviser to see what is most appropriate to achieve those goals.
The gambler
High risk investments can pay off- indeed some people have benefited from speculating on seemingly unpromising investments. This is fine if you have savings elsewhere – however any sensible financial adviser will look at your investments and help you look at other forms of investment that are lower risk but offer a bit more protection.
The ethical investor
Increasingly people are concerned about where their money is going and what they are investing in. There are a number of alternative investments available. However, it is still important to do your research to see what will give you the best return.
Admittedly these are fairly broad categories. Most people are broadly a mix of two or three of these types of investor. There is not necessarily a right or wrong approach, more different personalities and being able to adapt to those types of personality.
At Larcomes Financial Services we believe in being “big enough to specialise, small enough to care”. What this means is we have the resources but also the desire to find the ideal financial solution to suit your business.
We are confident that this also means that we can adapt to you. If you would like to know more about how we can assist you with your finances and help you choose investments suited to you please contact us today.