Hey there, I’ll just repeat what I always say you can’t really figure out a strategy if you don’t have clear goals. So start right there. Grab a seat and jot down all your goals, whetherr they’re short , medium , or long term. Picture how much money you’ll need for each one along the way.
Then, go ahead and ask your favorite AI to fill you in on the different “asset classes” or kinds of investments (like cash, bonds & credit, real estate, stocks, crypto, and so on). They each land somewhere different on the risk scale, and each fits a different timeline.
For your short term goals, you’ll want to lean toward low risk investments, while you can afford to consider higher risk ones when you’ve got more time.
You’ll usually find that higher risk comes with the chance for better returns.
And hey, don’t forget to think about other stuff, like how much effort it takes buying property directly is way more hands on than just investing in ETFs, for instance (plus, it’s less liquid and less diversified).
It’s also a good idea to look into how different types of assets are taxed. And if you’re saving for the long haul let’s say, retirement investing inside super can score you the best tax perks.
