If you’ve ever flicked through an investment magazine or listened to the financial gurus on television or radio, you’ll realise that the investment choices are many.
In fact, investments can vary enormously in their earnings, how they are taxed, their timeframe suitability, and of course their volatility or risk. It’s no wonder that newcomers feel apprehensive.
Before you take your first steps, you need to consider:
Your investment goals
Are you saving for a world trip, your children’s education, your retirement nest egg, or do you need additional income now? Your investments need to match your goals you are trying to achieve.
Your financial circumstances
How much money do you have to invest – and how much debt? What are your current and future commitments? How much super do you have? Perhaps you have surplus income to invest.
Your “risk tolerance”
Everyone would like high returns but these usually mean greater volatility – your investments may rise and fall in value over time. How much volatility and risk are you prepared to accept?
Your investment timeframe
For longer term investment goals you should consider investments with good growth potential, such as shares. For short-term goals, choose investments that are less volatile.
Your tax situation
Investment earnings are taxable but some investments, such as Australian shares, offer tax benefits. You should also consider the tax benefits of income splitting, borrowing to invest (gearing) and for retirement  savings and superannuation .
Seek professional advice
For specialist advice on investment and on strategies for wealth creation, superannuation saving and retirement planning you should talk to one of our professional financial planners  who are licensed to provide advice on the full spectrum of investments, with access to ongoing training, sound investment research, and the latest government/legislative information.
To make an appointment to talk to a Beyond Bank Financial Planner  about investing call 13 25 85 or leave a message on our blog.