Are you focusing on what really matters in terms of your investments? It is easy for your long term needs and objectives to become obscured by short term concerns and priorities.
Investing for the long term can help in eliminating costly long term mistakes.
1. Review your goals
It's important to remember what your investments are for. Are your investments aligned to your current attitude to risk and loss tolerance?
2. Only buy something that fits into your portfolio
It's important to ensure that the portfolio that is has been designed for you is well constructed and in line with your objectives.
A well designed portfolio which includes a mix of investment categories and sectors in line with your risk profile and with an asset allocation that suits you is essential.
4. Review your investments
It's important that your investments are reviewed on a regular basis in order to ensure that they still meet your needs and objectives.
5. Buy low
When markets are in a period of turmoil it's difficult to imagine investing. However, by investing in difficult periods, you can set yourself up for increased returns over the long term.
6. Keep making new investments
Ensure you are taking advantage of your pension and ISA allowances and use regular payments to give yourself the chance of buying in to the market at potentially attractive levels.
7. Think long term
Concentrate on the goals you have set for yourself and don't become discouraged due to a short term fall in values for example.
Contact Westminster Wealth Management today and one of our skilled advisers can construct a financial plan for you that will enable you to meet your financial goals.
The value of investments and income from them may go down as well as up and you may not get back the original amount invested.
A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
Seven New Year resolutions for investors