|Your first investment step is to have clear financial goals and a realistic plan for how to reach them. The best people to talk to are financial professionals -- brokers, financial planners, and licensed insurance representatives who can clarify your goals and help you develop your plans.
If you already know a broker or financial planner, talk to them about
investing. If you don't, ask your friends and colleagues whom they trust
for their financial advice.Talk to several. See who best fits with your
style and can help you develop a financial plan.
Build from the bottom using a solid base - A solid base includes planning for life's unexpected twists and turns. Consider the importance of protecting yourself and your family with life, disability, health and critical illness insurance. A will and power of attorney are an essential part of your financial plan.
The next layer includes financial products that can help accommodate a comfortable lifestyle now and a carefree retirement in the future.
Once the elements of your investment plan are in place and you've begun to reach your financial goals, it's important to explore a new range of investment opportunities. These opportunities can provide the potential for further portfolio diversification, growing your investment savings and reducing taxes.
Following a well-managed financial plan can lead to a better financial future.