How do you know when to take a risk with your money and when to play it safe? Is it better to risk when you’re young and play it safe as you age? What is your risk tolerance and what are the financial vehicles that will accomplish your goals once you figure that out? The frustrating thing is that there are so many questions to ask and everybody says that they have the right answers for you. Furthermore, you don’t even know if the questions you’re asking are the right ones. So what do you do?
My suggestion is that you start to interview people that you know and trust who have achieved a financial level that you would like to reach. Ask them about their financial plan or how they have their estate set up and whom they use. Find out what questions you should ask these professionals so that you can make informed decisions and when you’re ready, interview them. Don’t be afraid to be extremely thorough. The good ones will educate you on everything from mutual funds, to Real Estate to Fixed Deferred Indexed Annuities. Don’t worry, your gut will begin to tell you which ones are really looking to help you reach your goals and which ones might just be looking for a pay check.
As for risk based investments vs. conservative investments, only you can decide what you’re comfortable with so make sure you’re not only listening to the professionals your also listening to yourself.
Leading the industry through his innovative approach, Dino Katsiametis has over 17 years of extensive experience within mortgage, banking and real estate industries. His passion for the collective financial and investment services sector combined with his distinct insight, has catapulted Money Matters with Dino onto the forefront of financial news.
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