Take Action!
After all the self learning, planning and strategizing via Step 1 to Step 5, it is time for you to put things into motion. This Bonus Step will provide you with right motivation to get you started!
Selecting The Right Strategy
In unit trust investing there is no one fixed strategy. However there are a few tried and tested strategies one can adopt. Step 4 will provide you with the right strategy to match your financial goal.
Using The Right Tool & Resources
Step 5 will provide you with the right kind of tools to analyze, select the right funds, conduct buy & sell transactions and monitor all your unit trust investment. You will be given resources to Unit Trust information & database as well as links and references to Market and Economic news.
Know Your Risk Tolerance
The biggest problem an investor face is not knowing what his or her risk tolerance is. A low risk tolerance investor for example should not invest in a high risk investment. That's because when a loss occurs, the investor is unable to stomach that loss, starts to worry and finally decides to exit the investment pre maturely. To prevent this from occuring, Step 3 will assist you in identifying your personal risk tolerance.
Bonus
Step
Step4
Setting Specific Financial Goal
Before you start investing, you need to first determine what are your financial goals. Each goal that you set must be specific in terms of amount and when it is needed. In addition, having specific financial goals can act as a form of motivation as well as a guiding principle for disciplined investing. Now this is where Step 2 will guide you on how you too can establish your own specific financial goal
Step
2
Step5
Step3
Understanding Unit Trust
It is extremly vital for one to understand what he or she is investing in. Investing without knowing the basics is akin to building a house without pillars. The house will collapse easily at the slightest of tremors. To help you build a solid understanding, Step 1 will teach you all about the basics of unit trust investment.