With 2020 being the year that it was, many of us have had to cash out the majority of the savings we had! But that is not necessarily a bad thing! New beginnings often lead to new growth. So why not tack this opportunity to improve your financial plan? Read up on some investing tips, savings tips and strategies. And maybe even consult a financial planner! This will help you take good from the bad and create something even better!
But now you are asking where should I invest? Unfortunately, this is not something we can answer. But we can give you some ideas that you can research and make your decisions around!
Here are 3 ways to invest better in 2021:
- Plan for the unexpected
Planning for the unexpected has never been truer than now! We do not know what is going to happen next, so we need to plan for the unexpected.
- Keeping some cash could be a good idea
Cash is king? Not normally in my experience. It costs more and earns less. But I found out this year that having some cash easily available can be a good idea in times of crisis. Now I don’t mean physical cash, I just mean quick and accessible money like a 24-hour call or pocket savings account rather than invested in say unit trusts.
Discuss this with your Financial advisor to see what they think is best for your situation.
- Keep learning
With so many new investment products and ways to invest coming about, it is vital to keep learning and exploring these new products to see if you are still invested in the right place. As lower fees could add up over time, but a better fund could render fees redundant!
2021 is going to be a great year! But the truth is, we have to make it good! So lets make it great. Read up on some investing tips and grow in 2021!