Gain expert advice from Makala Green about building wealth and financial planning
Following our recent online Q+A session with Makala Green, the first black British female chartered financial planner, we asked Makala to share her top tips for first time investors, please see her top tips below.
Set a goal – Whether you’re investing to buy a house, start a family or a business. Put a reason behind your investments.
Establish an emergency fund – Build an emergency fund at least 3 months of your monthly expenditure before you consider investing.
Diversify – In other words, don’t put all your eggs in one basket. Investing in a range of assets will help reduce investment risk.
Research – Do your research before you invest and keep up to date with financial news and literature.
Start Small – Investing is not about how much money you have it’s about how much you can accumulate. So don’t be afraid to start small it’s important you are comfortable with the amount you invest.
Think Ahead – Think long term when investing. Investments are designed to perform better over the long run so don’t be in a hurry to achieve growth overnight. Remember investment growth is not determined on the time you invest but more the time invested in the market.