We are all individuals with our own unique personality and when it comes to finance and investing the same is true. Finding out your financial personality will give you some insight and guidance in the way you handle your money and what you are more comfortable investing in. The 21st Century has seen the emergence of more investment possibilities as well as some financial difficulties that we have not encountered before. There are opportunities for creating wealth available to more people than ever before, find out where you fit in.
The Passive Investor
The passive investor may be a beginner or someoe who has little time to follow their investment and so chooses a professional to take care of the details. You should however never let someone else have complete control over your finances, always follow whats going on and monitor how your money is working for you. You may be comfortable using fund managers or unit trusts but you don’t have to stay a passive investor for life. Once you gain some experience or more time consider other investment possibilities if you feel comfortable but seek expert advice.
The Active Investor
If you are this type of investor you like to stay in control, but this means you have to have some knowledge of the market and investment cycle. You must have a clear goals and objectives, are you investing for tax benefits, income or capital growth? To be an active investor you need time and cashflow as well as knowledge and you should still seek professional advice when needed. Active investors are attracted to property, shares, options, gold, futures and collectibles.
The Conservative Investor
If you are this type of investor you do not like taking risks and may feel your money is safest in the bank in fixed term deposits. However you may find this type of investment often costs more in tax and other fees. getting expert advice is one way to learn other investments strategies that are low risk and more beneficial. Property held over the long term is one low risk investment that may be suitable there are also a number of stock market strategies that can be put in place to protect your capital. Just be sure you understand what you are investing in, including costs, fees and charges and compare them with what the banks offer in the way of secure investments.
The Average Investor
Average investors often do well because they are willing to consider a wide range of investment opportunities, are prepared to take some risks, invest over the long term and understand their investment choices.
The Flamboyant Investor
You fall into this category if you are prepared to take big risks in the hope of big gains. These risks do pay off sometimes but usually only if the risk has been carefully calculated and only a portion of your investment capital has been used. If you foolishly put all of your money into get rich quick schemes it is likely they will not turn out as you hoped. Timing is often very important for this type of investor so you must really be familiar with and understand where you are putting your money, seek professional advice and have a balance of some secure investments in your portfolio.
Once you understand your investment personality learn as much as you can about the strategies you are best suited to, there are a number of educational programs and homestudy packages that can help you but once again be sure you choose a reputable company or program with a proven track record.
Power Thought
I am always prepared for opportunity.
Think about this and you will be.
Have a beautiful day
Teresa and the Team at
