Building a career can be tough, but at the same time, exciting with golden moments. From the exhilarating feeling of your first paycheck to the excitement that comes with finally securing the much-needed capital for your new business venture. Wherever you are on your journey to success, it is easy to get so focused on work that you pay less attention to creating an investment plan for your future.
Without a plan, it is difficult to know what to invest in, you may end up making investment decisions without understanding their true long-term implications. A solid investment plan starts with creating manageable goals for your investments. This plan will help you build a portfolio to support those goals. You can review your portfolio periodically to make sure it is still aligned with your goals.
The best time to start is at the earlier stages of your career. Structure a plan that ensures you receive good returns, maximize the opportunity to benefit from compounding your investment returns, and avoid limits on your gains.
Failure to plan for your investments could present a range of problems. You run the risk of investing too much or too little. Investing heavily without building up an emergency fund could be costly if you lose your job or face another significant emergency that forces you to exit your investments prematurely. Doing so when the value of your long-term investment has decreased may mean you realize investment losses because you failed to plan properly.
On the other hand, not investing enough early on could significantly hamper the achievement of your goals. Investing early means that the money you invest has more time to grow. If you start small when you can afford to invest more, you may regret not putting more money toward investing as your goal approaches.
FBNQuest Asset Management can help you better navigate your investment options. In addition to offering discretionary portfolio management as a service, we offer a range of investment products that are suited for any investor type with a range of risk/reward characteristics designed for whatever stage you are in your career. They include the FBN Balanced Fund, FBN Smart Beta Fund, FBN Bond Fund, FBN Dollar Fund, and the FBN Money Market Fund.
You are accountable for your own career success and the investment decisions you make will have a huge impact on your career progression. To get ahead in your career, you should endeavor to invest in your strengths, keep learning, build valuable relationships, and stay motivated. As you do so, put in the effort to create an investment plan for the financial rewards that you make along the way.