Here at StockCross, we provide various services, including financial services in investing. We understand the importance of securing and protecting your financial future. That is why our professionals work so hard to determine where you need to invest your money -- we work hard, so you don’t have to. As the New Year rolls in, so does the time for making some investment plans. While consulting with your financial advisor is essential, you should also keep these investment tips in mind:
- First things first -- get rid of your debt. Before you can even have enough money to invest, or before you can continue investing, you need to have the funds. By eliminating your debt, you will have even more funds available for savings and investing -- both of which can help secure your future. So, pay off those credit cards and cut them up.
- Make sure your savings are going into a Roth IRA and not just a regular savings account, or you will be missing out on an easy way to increase your savings. Your employer can contribute, as well, and while you will have to pay taxes on contributions, when you withdraw the funds, there is no tax due.
- Diversify your portfolio. Yes, you should hang on to tried-and-true investments. But change things up, too. Invest in more than just stocks and bonds. Diversity helps to ensure that you are making the most of your money and giving it every opportunity to earn a profit.
- When looking for new ways to invest your money, consider master limited partnerships. These are mostly firms that own gas/oil transportation or storage, such as pipelines. An MLP can be traded just like a stock. It is a usually solid, long-term investment because negotiated contracts for transporting gas/oil are long-term.
- Discuss other alternative investments with your financial planner, such as mutual funds, gold, natural resources, and commodities. Be careful with gold, though, because financial forecasters have predicted higher interest rates this year, which tends to be harmful to gold. Keep the foreign sector in mind, too, because there are often hidden gems that you can only find abroad.
- Above all else, be prepared. You may not make as much money this year as you wanted. You may make more. When it comes to investing, the best thing you and your financial advisor can do is try to avoid huge losses.
Be proactive in your financial future. Arm yourself with knowledge rather than depending solely on your financial advisor; make a solid plan for your future and your goals; eliminate your existing debt; and take charge of your life, once and for all.
Here at StockCross Financial Services, we understand the ups and downs of the stock markets. We also know how important your money is to you. That is why we strive to help our clients diversify their portfolios, and invest their money where it is likely to do the most good. Contact us today to learn more about how to invest your money the right way.