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Investment Tips for First Time Investors

The first decision you need to make is exactly what you want from your investment. If you are looking to supplement your household income your investment will be different than if you are looking to create a future nest egg. This decision, of course, will be influenced by how much you have to invest. Before making any concrete plans you will need to decide how much you can afford to invest and for how long.

Getting the advice of a financial advisor is also important; they can provide you with investment tips and knowledge and help you avoid making costly mistakes.  Any investment that promises a high return or quick capital growth is always worth looking into further before making any concrete decisions. Remember, if it looks too good to be true that is because it usually is. A funding manager or stockbroker will not only be aware of investment tips, they can help you with the day-to-day running of your investment. This is an important decision to make, as you will need to decide whether you can manage your investment yourself.  Aside from investment tips, your investment manager can advise you about any tax breaks you are due as a result of your investment. Being aware of how your investment affects your tax is important, as ignorance may not only lose you money, it may also cost you in fines if your tax is not properly declared.

Depending on the type of investment you make, you are likely to be expected to pay various charges.  You can also get investment tips from the Financial Services Authority, who will inform you of things to look out and what to avoid. They will also be able to confirm your investment manager is reputable and FSA cleared.

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