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Aired on May 17, 2022
Episode 146
4 Key Questions to Ask When Investing
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Ready to invest? Ask yourself: What are my goals, risk tolerance, suitable investment vehicles, and associated costs? Clear answers will guide informed decisions and secure long-term financial success. Cheers to your investing journey! #FinancialFreedom

4 Key Questions to Ask When Investing

Are you considering dipping your toes into the world of investing?

Whether you're a seasoned investor or just starting out, it's important to ask the right questions before diving in. Investing can be daunting, but with the right knowledge and guidance, it can also be immensely rewarding. Here are four key questions to ask yourself when considering an investment opportunity.

1️⃣. What are my investment goals?

Before making any investment, it's crucial to have a clear understanding of what you hope to achieve. Your investment goals will shape the entire investment process, from the type of assets you invest in to your risk tolerance. Ask yourself:

  • What am I investing for? Retirement, a new home, education, or wealth accumulation?
  • What is my time horizon? Am I looking for short-term gains or long-term growth?
  • How much risk am I comfortable taking on to achieve my goals?

Understanding your investment goals will help you make informed decisions and stay focused on what truly matters to you.

2️⃣. What is my risk tolerance?

Every investment comes with a certain level of risk. Understanding your risk tolerance is key to building a portfolio that aligns with your comfort level. Consider the following:

  • How would I react to a sudden drop in the value of my investments?
  • Am I willing to take on more risk in pursuit of potentially higher returns?
  • What is my current financial situation, and how does it affect my risk tolerance?

Being honest with yourself about your risk tolerance will help you avoid making impulsive decisions based on market fluctuations and stay committed to your long-term investment strategy.

3️⃣. What investment vehicle is right for me?

With so many investment options available, it can be overwhelming to choose the right one. Whether it's stocks, bonds, mutual funds, or real estate, each investment vehicle has its own characteristics and potential benefits. Consider the following:

  • What is my level of investment knowledge and experience with different asset classes?
  • What is the potential return and risk associated with each investment option?
  • How does each investment align with my overall financial goals and risk tolerance?

Choosing the right investment vehicle requires careful consideration and often benefits from the advice of a financial advisor who can help tailor your investments to your unique circumstances.

4️⃣. What are the costs and fees associated with the investment?

Investing isn't just about potential returns; it also involves costs and fees that can impact your overall investment performance. Before committing to any investment, be sure to inquire about:

  • What are the upfront costs of purchasing the investment?
  • Are there ongoing management fees or maintenance costs?
  • How do these costs impact the overall return potential of the investment?

Understanding the costs associated with an investment will help you make informed decisions and avoid any unpleasant surprises down the line.

In conclusion, investing can be an empowering way to grow your wealth and work towards your financial goals. By asking yourself these four key questions, you can gain clarity on your objectives, risk tolerance, investment options, and associated costs. Armed with this knowledge, you'll be better equipped to make sound investment decisions that align with your unique financial journey. Remember, investing is a journey, not a race, so take the time to educate yourself and seek professional guidance if needed.

Happy investing!

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Biggest Takeaways:   

  • Everybody is going to lose something at some point.
  • When the market has these big swings back and forth, it is very volatile. It can seem very risky for people.
  • Assess if you are taking more risks than you need to, in order to achieve your goal in your time horizon.
  • You can limit the parameters and make it so that there is more certainty.
  • Investing in knowledge always yields the best results.
  • Fear and greed are not good companions when it comes to investing your money.

Highlights:

  • The 1st Key Questions to Ask When Investing [01:17]
  • The 2nd Key Questions to Ask When Investing [08:22]
  • The 3rd Key Questions to Ask When Investing [09:15]
  • The 4th Key Questions to Ask When Investing [09:20]
  • How the rich and wealthy operate [15:20]
  • If you are risk averse [19:14]
  • Understanding trigger events [19:59]

Part 1 Video on YouTube – 4 Key Questions to Ask When Investing: https://www.susanmcvea.com/YT1

Part 2 Video on YouTube – How to handle market volatility: https://www.susanmcvea.com/YT2

Part 3 Video on YouTube – How to handle cryptocurrency market volatility: https://www.susanmcvea.com/YT3

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