8th Dec, 2017
They say the best time to grow a tree is 10 years ago. The second-best time is today. This may read like a cheesy motivational quote, but the adage is true. It also applies to investment strategies since you are growing your future bank balance.
Growing wealth is more than just starting the race early. In order to fully realize your investment, you need to make consistent choices. Whether big or small, here are 5 investment tips to get you laughing all the way to the bank:
- Save a percentage of your income.
Investments do not have to be large sums of money. In economics, investments are equal to savings. Opening a KCB Goal Savings Accountis definitely a way to start off the race. You can also save money for big purchases rather than spending haphazardly whenever the need arises.
- Build an investment portfolio
This is the next step after mastering the art of saving. Once you have financial investments, either by supporting small businesses or by buying stock in listed companies, you will not want to put all your eggs in one basket. Regardless of whether you are a beginner or a professional at investing, you will need some form of investment management. At KCB Capital, we have financial advisors who are willing to assist you achieve your investment goals.
- The Real Estate Investment Trust
The ultimate goal of most investors is to be involved in real estate activities. If you are just starting out, one of the first things to do is invest in property or get a mortgage on a piece of developed property that are often traded on The Nairobi Stock Exchange. These typically yields high dividends and is suitable for both small and large investors.
- Invest in yourself
There is an informal trend currently calling on all of us to “invest in ourselves”. How exactly do you put money aside for your own benefit (that doesn’t get confused with spending?) Well, you can invest in yourself by saving for retirement. There is no surer way to ensure that the future you is well taken care of!
- Start a Business
Finally, the ultimate investor is one who will start a business. Many millionaires such as Warren Buffet do this in order to achieve high income and a high rate of return on your accumulated wealth. However, starting a business is also one of the riskiest forms of investment, but do not despair. There is another adage that says “High risk, high reward!”
Overall, investing is a long term commitment. Apply these tips into your investment plans for a smoother ride into financial victory.
