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How To Start Your Investment Plan

To many people writing an investment plan is a huge task and can only be done by professionals in the finance industry. Well, that is not true, it is almost the same as writing a business plan but the slight differences is the input of figures that will show your funds.

An investment plan is a roadmap that leads you to your financial destination. It will help you have good focus on the route that will lead you to achieve your financial goals and objectives. Writing an investment plan does not have to be done by a stock broker, irrespective of any difference here are five tips:

1.Start With Your ‘Why?: Setting your investment goals is very important. You need to be specific and be sure of the reason . Your motives must ignite a burning desire in you towards investment. It will also help you understand the right type of investment to explore.

2. Save Money For Investment: The key to building wealth is developing good financial habits regularly putting away money for investment on a constant timeline. Your cutbacks on luxuries will help you in saving enough for investment.

3. What Is Your Risk Appetite?: As an investor, you need to understand your risk appetite is important . This will determine the kind of returns you get and it is best to diversify your investment through differentmesns because of the uncertainties.

4. What To Do With Your Return On Investment: One key investment plan that a lot of people leave out of the picture, is what to do with the returns. As an entrepreneur, you want to know how you’re going to divide up your returns on your Return On Investment (ROI).  One powerful thing is to re-invent returns to generate more value on your investment.

5. What Should You Invest In?
Determining what to invest on can be a bit scary but narrow down your choices especially to those that answer your reasons . Also, understand if it is a short term loan or long term loan.

There are plenty of ways to start investing now. More so, the advent of technology and the tremendous growth in the African financial tech space is making investing a lot easier now.

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