Do you know what the best investments are for retirees?
This can seem like an overwhelming question at first, but with the right guidance and research you can choose the best investment options that will suit your needs and your financial goals.
There are so many different investment options you can choose from. Here are the five main asset classes you can consider:
- Stock market
- Property
- Fixed interest
- Cash
- Alternative Investments
To help you determine the answer that’s most suitable to your needs, EJM Financial Services’ trusted financial advisors in Melbourne share some helpful information on the topic.
Consider Building An Investment Portfolio
Knowing and fully understanding your current circumstances is crucial when building an investment portfolio. A good place to start is by determining what your retirement objectives are.
How much do you think you’ll need to fund your lifestyle in the future?
Are you planning to continue working or to start a business?
These are just some of the questions that you may want to ask yourself, and based on this, you can begin checking out and comparing your options for investment.
Seeking a financial advisor may be able to provide you with an investment strategy that will be most beneficial to you, after assessing your individual- financial goals, investing time frame and risk tolerance.
If they’re a part of a reliable team like EJM Financial Services, you know that they spend time and effort to review and monitor investments to find the right investment solutions
Be Prepared and Diversify
If you are looking into creating an investment portfolio, don’t be deterred by market fluctuations.
Market highs and lows are usually inevitable during your investment time frame. It’s important to consider your risk tolerance and how that may affect your investment choices but always remember, that when it comes to investments, it’s best to stay informed and be prepared for anything.
Investing for retirement should be a long-term strategy, therefore it is best to prepare as early as you can.
Diversification is an investment strategy that enables you to spread your investments across different asset classes, lowering your portfolio’s risk. Since different asset classes perform well at different times, using the diversification strategy can provide you with better chances of gaining more stable returns.
To utilise this strategy you need to consider investing across different asset classes and within different options in an asset class.
The importance of the diversification strategy is to ensure that you will always have ready cash flow even during market fluctuations and that your investment portfolio continuously performs well over time.
Seek Support From A Financial Advisor
As with everything that has something to do with your retirement plan, investments, or other financial matters, it can be beneficial to approach it with the guidance from a financial advisor from the very beginning.
A financial advisor can help you build your portfolio tailored to your specific needs and adjusted for your risk tolerance and financial goals. A financial advisor can help resolve the confusion and challenging aspects to investing.
It’s essential to be smart about your investment decisions today to ensure you can attain your future financial goals and desired retirement lifestyle.
A reliable financial advisor can help you determine the best investments for retirement tailored for you. After all, everyone has their unique set of needs, and it’s important to do what’s right for you.
EJM Financial Services can provide you with the services of some of the best financial advisors in Melbourne. We know you take your retirement seriously, and we do, too.
Contact our team today and learn how we can help prepare you for your future!
