As 2016 rolls into the final quarter, most find themselves reviewing their financial goals. Most will find that they failed to meet their goals – usually due to procrastination. If for some reason you find yourself in the same boat, don’t despair. 2016 may be far gone but year 2017 is fast approaching. As the wise saying goes: “He who fails to plan, plans to fail”.
Whatever your 2017 goals are, now is a great time to start planning. One of the ways that you can meet your financial obligations is through investments. The art of successfully investing is about choosing the most appropriate investment products. This expertise is usually offered by asset managers. To invest you need to determine your total income and your expenses.
Assess your income:
Is your income received at scheduled intervals (e.g. a monthly salary), is it received in lump sums (e.g. upfront housing allowance), or are you a business owner that receives income from customers in irregular intervals? You need to identify your income pattern.
Assess your expenses:
Looking ahead, do you have any plans that are likely to increase your expenses more than usual? These plans could include buying a house, having children, or taking an overseas trip. Estimate how much your plans may cost and roughly when they may occur. In addition, think about other expenses such as repairing your home, car, or other expensive household goods that may not have occurred this year but could occur in the future. Your goal is to have surplus funds to invest and that can only start when you spend less than you earn and can look forward to a reliable, steady flow of extra cash.
Your cash flow and investing:
After determining your income and related expenses, determine how much you can invest. Your cash flow will determine how much you have in surplus funds. The stronger your cash flow, the more you can consider setting aside to invest. Many people on modest incomes have made themselves financially secure or even quite wealthy, while many high income earners just spend every kobo on lifestyle and have nothing left over.
To meet your financial objectives for 2017 the time to plan is NOW. Many investors have come to realize that having an asset manager is the best way to manage your investment goals thanks to their professional expertise, experience and investment acumen.
Importantly, we understand that your risk/ return profile and investment needs will inevitably change throughout your life, so we will provide regular reassessments to ensure we always have the best solution in place for you. From the onset, we will make sure you receive regular communications on your investments with us. Though your priorities may change, our commitment to safeguarding and building your wealth will not. Investing can be complex. That is why you require well-thought out ways to protect your assets and enhance their value. Markets are unpredictable and media reports can aggravate its risks and rewards. Employing a professional asset manager will relieve you of this burden and place it in the hands of an asset manager qualified to handle it on your behalf.