4 Easy steps for over 50’s to follow for safer investing

Investing can involve certain risks, especially if you’re new to it, so if you’re looking at bonds here’s how to invest the right way

13:39 02 February 2013

It would be best to seek help when it comes to your finances, but if you’re investing in bonds you can always look at the advantages and disadvantages involved. If you’re over 50-years-old, it may be that you’re planning for the future, and we should all consider our personal situations.

 

Here are some good approaches to bear in mind when it comes to investing:

 

·         Plan a budget; We should all be aware of our incomings and outgoings so that we can organise our spending. You wouldn’t want to live beyond your means, especially if you want to save money for the future. But many people turn to investing to secure their monies, so it would be wise to have a plan and stick to it.

 

·         Research investing; If you’re looking at pooling your money into investments, such as investment bonds, it would be wise to research the topic you are about to embark on. No-one should attempt to enter into something they are unsure of without first reading up on it.

 

·         Have a back-up plan; If you invest heavily in different ways and not all of it works out, you should always have savings or a pot of money that you can rely on for day-to-day living. Not living beyond your means would be the best approach if you want to be financially secure in later life.

 

·         Accept your choices; Many people rely on their instincts, so if parting with money is not something you are used to or if you’re new to investing (and aren’t sure what to do when it comes to investment bonds) then trust your judgement. You can always seek professional help though when it comes to your money.

 

Investment bonds can be on or offshore and they can offer an investor benefits, although there are other options you could consider when it comes to investing like pensions, savings (such as ISA’s) as well as investment trusts.