Posted by Weaver Insurance & Financial Advisors on
While almost everyone knows how important investing for the future can be, many wouldn’t even know where to start. Between the jargon and acronyms, the complexity of the process, and the apparent risks, it’s not surprising that many people find investments confusing and overwhelming.
Weaver Insurance & Financial Advisors in Waynesboro, Virginia, has a few investment tips for beginners who want to start saving:
Start Early: Some people are under the impression that they shouldn’t bother investing unless they can have thousands of dollars to work with. This actually couldn’t be further from the truth. If you start young, compounding interest will make even small regular investments grow into something worthwhile over time.
Diversify Your Investments: Essentially, a diversified portfolio consists of several different types of investment, some of which may grow even while others lose money. If you don’t have enough to open your own account, consider investing in a mutual fund, which allows you to combine your money with investments from many other people. A manager who understands the market will decide where to invest it, which makes these funds a great way for beginners to dip their toes into the market.
Consult an Expert: Financial advisors aren’t just for wealthy, experienced investors. If you’re not sure where to invest your savings, they will help evaluate your risk and help select the appropriate investment vehicle for your needs. Whether you’re planning on buying stocks or opening an IRA, the first steps to investment success is talking to a professional.
The skilled experts at Weaver Insurance & Financial Advisors are dedicated to helping everyone get the most out of life and achieve their goals, with a wide variety of services for investors of every level. To learn more about investing and to schedule an appointment, call (540) 943-1221 today.