investment planning

Developing Your Investment Plan - A Vital First Step.

One of my online businesses helps provide information and products to help other people set-up their own dot com businesses. One of the first things I advise my clients is to create a plan for their business. A plan puts all those thoughts in your head together, combines then with practical facts & figures and gives them a blueprint to get to exactly where they want to be in a structured and efficient way.

You’ve heard the motto, if you fail to plan, you plan to fail! This applies as much (if not more) to investments as it does to anything else in the world.

Here are just a small sample of things that your personal investment plan should highlight:

1. What amount of money you have available to invest and how this sum will be allocated within each different asset class.

2. How will you find suitable investments? Will you learn about them yourself or will you seek out professional advice (for example brokers or follow investment gurus).

3. How you will cope psychologically when your investments turn against you. The market moves heavily on psychology and how you react to situations can be the difference between winning and losing.

4. A more detailed plan should be created for each investment outlining the reason for the investments, as well as an entry and exit strategy.

To try and start investing without a clear plan is asking for trouble.

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