A well thought out and executed investment is one of the best ways to achieve financial success. While you don’t necessarily have to be an expert to start investing, you will need to acquaint yourself with some of the basics before taking the plunge.
AOG Wealth Management, the experts in investment management in Washington, DC, shares five key factors for your consideration:
1. Current Finances
Are your finances strong enough to handle your foray into the investment market? It wouldn’t make any sense to invest money when you are neck deep in debt or you have no substantial savings to cover emergencies.
2. Investment Purpose
Know exactly what you are investing for so you can have a clear idea of how to apportion your money and the expected timeframe. For instance, stocks usually require a long term investment before you can expect significant returns, so if you’re looking for a quick payout, you might want to consider other options.
3. Risk Assessment
All investments involve some degree of risk so be sure you understand what you are getting into and that it is well within your comfort zone. As the McLean asset management specialists, we can help you assess the risks associated with your chosen investment path.
To minimize the risks of losing heavily in a volatile market, consider investing in more than one asset category. This way, if the returns for one category falls, you can use the fairer returns to offset any losses incurred.
5. Dollar Cost Averaging
This is an investment strategy that protects you from the risks of investing all your money at the wrong time. Rather than add money to your investment erratically, you can follow a consistent pattern over a prolonged period. Through this approach, you will be able to buy more of an investment when its price is low and less of it when the price is high.
Let the experts in investment planning and asset management in Washington, DC, work with you through each step of the investment process. We are dedicated to helping you reach your financial goals.
Give us a call today at 1-877-600-3573 or fill out or request form to get started with a complimentary consultation.