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THINGS TO CONSIDER BEFORE MAKING AN INVESTMENT

THINGS TO CONSIDER BEFORE MAKING AN INVESTMENT

Finally, you have decided to leave the club of those who only work for money but do not know how to make their money work for them; congratulations. But before you make that quantum leap, here a few things to consider.

Business investment growth concept.

1. Your financial goals: You need to ask yourself what your financial goals are either in the long term, mid-term or short term. Why do you want to invest? What projects do you need money for? The answers to these questions would be your drive. They would motivate you to keep moving even when you encounter a few potholes on your investment journey.

2. Your present earnings: You need to do an evaluation of your current earnings and expenditures. Ask yourself, how much do I earn altogether? How much do I want to invest? If I remove this sum, would the remaining sum take care of my expenditures? If no, are there ways I can address that so I can still invest? These are questions you need to ask yourself so you don’t pull out before the investment starts yielding returns.

3. Your risk tolerance: There is a need for you to ask yourself how much risk you are able to tolerate. Note that the more risk you can tolerate, the greater chance you have to make more money (or losses). For newbies, it is advisable to start from investments with low to medium risk so as to build confidence in investment returns before venturing into investment projects with high risk.

the concept of growth and saving money

4. The credibility of the company/business: Find out: how credible is the company/business? Do you understand the way they make profit? Can you explain it to a layman? Is the company honest/transparent? Are they insured? Are they competent? Do they have a track record of paying dividends or ROIs in spite of the challenges they encounter? Your answers to these questions would guide you in knowing if the company is worth your investment.

5. Your emergency fund: Life is full of ups and downs and unexpected things happen unexpectedly. It is important for one to have an emergency fund to cater for such so one would not be forced to opt-out of any investment one is into and possibly lose some money in the process.

Above all, always seek the help of a financial advisor. He/she would hold you by the hands and guide you through the murky waters of investment to a place of safety. Secure Capital is ever ready to meet that need. We are just a dial or text away. Contact us today and you would be grateful you did.

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