Investment advice from the experts
- Invest for the long term
and treat recommendations to keep changing your portfolio with caution, as changes are costly.
- Invest in quality.
Whatever you invest in, buy shares with potential. Past performance is not necessarily a guide to how an investment will perform in the future. Seek the advice of a professional.
- Don't swap investments unnecessarily.
Find out about any charges that apply and penalties that will be incurred if you change an investment.
- Go for growth when you are young and income as you get older.
Younger people can afford to take risks while older people close to retirement need to be more cautious.
- Stick to the basics.
Gimmicks emerge from time to time, but are based on greed. Avoid them!
- Diversify
your investments geographically as well as according to investment type. The better the spread, the less the risk.
- Don't let investments and markets rule your life.
Enjoy your health, your family and your friends. Time is far more precious than money, so don't let the state of the stock market rule your life.
- Check all charges and make sure they are explained.
Remember, each time you make a change to your portfolio, charges are incurred.
- Watch out for people who claim to be investment gurus.
Nobody can predict with any certainty what is going to happen tomorrow.
- Take responsibility for your investments.
If you don't understand investments, appoint an adviser, but this does not mean that you abdicate your responsibility.
- Make sure you keep up with investment developments.
A well-informed investor has better control of his or her future.
- As your circumstances change
, you may want to change the beneficiaries nominated in your policies, your retirement funds or your will. You and your beneficiaries must make sure the company where you have your retirement fund always has your most recent details. Advise them immediately of any change of address, telephone number and similar details.