1. You need to know your goals

It is very important to know what you expect of yourself and of your life because that's what helps you change anything. Sacrificing an hour or two of your time to clarify what you really want to achieve is very helpful for your future personal development. The same also applies to saving and investing. How to find out where to save money and how to build an investment portfolio without knowing its purpose?

Now it is time to take a pencil and paper to your hand (those well-versed in technological advances can use electronic notepads), to pour a glass of wine or make some herbal tea and sit and think what you want to gain. These might be material goals as well as other longer-term goals such as happy retirement, secured children or a total sense of security and independence. It is also good to specify when you want to achieve these goals.

 

2. Find out how much you need to save

Have you written it down? Great. Let´s move a bit further. When you know your goals, try to specify the amount which is closest to them. Individual goals may differ in how much money they require. The longer-term ones will usually go with a smaller regular amount. As for the short-term goals, it is necessary to reach for a hammer to break the piggy bank.

You need to have a system in your savings in order to reach your goals. You need to find out how much money per month is ideal for you to save in order to move forward with confidence. When you contact your financial advisor, this will make your job a lot easier. And if you do not have any, search him out. Having someone who can advise you can be very useful.

Financial advisors earn their living by means of saving and investing. Therefore, they must keep track of current trends and what works in the long term. If you feel like Alice in Wonderland in the world of saving, do not despair. The advisor will certainly help you navigate through the newly discovered place.

 

3. Choose where to invest

There are many saving and investing possibilities. Some investments will make no sense to you and other may move you through by leaps and bounds.

In general, it is true for investing that the bigger and faster the returns are the deeper and rougher the fall may be. In other words, more profitable assets carry a significant degree of risk. On the other hand, the safest investments need not (but can) deliver the same money as the risky ones.

It depends on your nature and risk appetite. In any case, however, we recommend dividing your investments into several different parts. How to do it? The first part may include shares and securities which have a faster and higher return. The second part is any property which will generate income for you or at least, you will have your own living. The aim of the third part is to protect the backs of others in bad times.

There is no doubt that investment gold, which is not subject to inflation and the economic crisis raises its price sharply, unlike many other investments, is included in this third part. In the long run, however, the price of the precious metal is growing consistently. As a result of this, gold acts as a protector of money in other investments as well as of money that you have not saved anywhere. Moreover, gold is a universal currency. You can capitalize on it anywhere around the world.

Everybody can have a well-balanced and safe portfolio. It certainly doesn't apply any more that gold is a privilege only for the rich. You can save in it with regular payment from EUR 4 (video).

 

4. Where to take money to invest?

Great! Now you know how much money you need and how to build your portfolio. Do you know how to finance it?

If you have no savings and you live from “paycheck to paycheck”, you do not have to lose your heart. All you have to do is to take a moment and write down on what you are spending your money. You will certainly find plenty of places where to save. You can skip having a beer with your friends once a week, can´t you? And suddenly, you have two hundred crowns in your pocket. You may also save money by planning your meals and purchases. If you save only fifty crowns a day, you will have around 60 EUR for your investment at the end of the month.

 

5. Rome wasn't built in a day

Passion and perseverance are key to success. Rome wasn't built in a day, and unfortunately, you will not become the most successful investor right away. Hold your feet firmly on the ground and keep on saving and investing, consult with your financial advisor on a regular basis what to do next and try to look new ways how to let your money work for you. Be patient, you will reap the fruit soon.

If you've read this article up to here, it is likely you want to work on yourself, which is the first good sign on the way to fulfil your dreams. IBIS InGold wishes all those enthusiasts only all the best on their way. If you need any help with investing in gold, do not hesitate to contact us.