Jeff Labelle encourages newbies in investment with these top tips, helping
them to make a move.
SARASOTA, FL, UNITED STATES, September 8, 2021 /EINPresswire.com/ — Set investment targets
As you’re beginning the thrilling journey of investing, the first critical thing is setting investment goals, says Jeff Labelle. Clear investment targets fuel your motivation to continue investing and saving even when the economic outlook isn’t rosy. As Jeff Labelle adds, your financial goals must have a time frame, ranging from short-and medium- to long-term. For example, a five-year goal could be buying a house.
Have a look at your finances
Without knowing your exact money receipts (what’s coming in) and money payments (what’s going out), your investment journey may be bumpy, explains Jeff Labelle. To help you succeed in your investment journey, know your income patterns like the back of your hand. Jeff says that you could use an online budget app to record your income vs. all your expenses, for example.
Create an emergency fund
According to Jeff Labelle, setting up an emergency fund is crucial as you can use it as a cash reserve to lean on to meet an urgent expense. That is because emergencies always happen and so it’s smarter to be proactive to avoid dipping your finger into your savings, he adds.
Jeff Labelle observes that the biggest hurdle to starting saving is just to start. When can you kick start your investment journey? There’s no better time than now, stresses Jeff Labelle. The more you delay, the more you feel discouraged about beginning. One pro side of an early investment is that your savings will have a long time to leverage compound interest.
Consider a blend of investment
Now that you’ve made up your mind to invest, you may be wondering what to invest in? This is where a professional investment advisor can be of assistance in helping you find investments appropriate for your risk tolerance and Objectives.
Recall you’re sowing seeds of financial stability for your future and, as a result, you should try to avoid skipping a month to set aside your savings. Jeff Labelle says that it’s wiser to automate your investment via an investment service or a brokerage firm to ensure continuous saving.
Jeff Labelle is currently the President and CEO of Gulf Coast Wealth Advisors and Gulf Coast Insurance Group. He is a registered investment advisor representative in Florida and offers investment advisory services through Kovack Advisors, Inc. Note that Gulf Coast Wealth Advisors isn’t affiliated with Kovack Advisors.
The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Estate planning is done in conjunction with your estate planning attorney, tax attorney and/or CPA.
Investment decisions must be made on individual Risk Tolerance, Investment Objectives and Time Horizon.
Investing involves risk, including the possible loss of principal.
Gulf Coast Wealth Advisors
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