Are your investment decisions helping you to achieve your goals?
In order to reach a goal in life, whether it be retiring early, buying a holiday home or building a fund for your children, you will need to invest time and money to reach it.
So when looking at your own goals, what kind of investor are you?
Are you someone that does all your own research, reads all the financial press and picks your own investments? Or are you someone who has no clue where your ISA, savings or pensions are invested and have no interest in doing the research?
If you’re the second person then you need to act quickly to rectify this because you will not reach your goals without some form of plan in place. For all you know, your goal could be achieved right now! Without a plan and proper investment management your money will just go up and then back down with the investment market whilst at the same time paying a huge amount of fees to investment managers. Money that could have been better spent by you!
Even if you fancy yourself as an investment ‘expert’ do you really know what performance you have achieved and the charges you are paying? Are you just picking the best performing investment funds from the previous year? Research has shown that when left to their own devices people are generally terrible investors, we panic and sell when prices are low and get greedy and buy when prices are high. The exact opposite of what you should be doing! Over 70% of the best performing investment funds fail to repeat their performance the following year.
The most important thing is to act now. Dig out the latest statement for each investment/pension you own. Look at all the values, do you have enough to achieve your goal? If not, seek professional advice to help you put a plan together. The massive value you get out of this to help you achieve the lifestyle you want will far outweigh any costs.