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Top 10 tips for deciding on your investment options
02.08.2012

Financial planning isn’t just about sourcing a product and using it to boost your income. There are so many options around that it’s vital to consider all avenues and think about your personal situation in order to find the best investment or package for your needs.

Here are our top 10 investment tips to help you identify the best product for your lump sum investments or overall financial planning portfolio.

Financial planning – 10 things to consider

Amounts – do you want to put a little aside each month or are you in a position to take advantage of a lump sum investment? Decide whether you want to make regular contributions, whether you can commit to a certain amount every month, or if you just want to invest a specific sum for a rainy day.

Purpose – what are your longer term financial plans? What are you going to use the money you’re saving for? Are you saving in the long term or short term? What are your ultimate objectives?

Access – do you want to put away a lump sum investment that you can’t touch while it increases in value? Or do you need a financial planning solution that allows you to dip into the pot if needed?

Age – the age that you start saving can have a massive impact on your attitude to investments and their associated risks. If you’re starting young, you might feel you can take a higher risk approach for a potentially greater return.

Income – is your regular income enough, or do you want your investments to provide a regular contribution to your overall monthly budget. Is a buy to let property worth considering? Or would you prefer to wait until retirement to draw an income?

Personal situation – being self-employed, having children, being single with no ties; each of these circumstances will have a part to play in the financial planning decisions you make. They will have an impact on flexibility, dependents’ requirements and your ability to commit to different product options.

Current financial planning position – do you already have a lump sum investment set aside? Have you already got a fairly secure contingency plan? If you do, you might decide it’s now time to take a higher risk gamble.

Personal values – are you concerned about the environment? Because there are green investment options available if that’s the case. Or are you seeking options that fit in with other ethical beliefs? Alternatively, returns may be your main priority, in which case you can look across the marketplace for a wider choice.

Changes – how secure are your current circumstances? Could you be subject to changes that require you to liquidate an asset and gain access to funds? If this is a consideration, you’ll need to look at penalties and clauses for early exits.

Advice – are you confident enough to go it alone or do you require professional financial planning advice? Do you understand the financial landscape or does all the jargon and terminology baffle you? Decide whether or not you need help before you make any commitments.

Financial planning advice

If the last item on our list gave you pause for thought, you can always trust Guardian Wealth Management to offer honest and impartial advice. We can guide you through lump sum investments and any other financial planning option you may be interested in, and help you to answer all of these questions to come to the right decision.


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