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Tried & True Investment Tips
No matter what the condition of the market
or the advice from friends and family, there are four proven techniques
for becoming financially stronger. If you use these simple concepts,
you will find yourself ahead in the months and years to come.
Tip # 1: Do not give control of your money
to someone else.
This is not saying that you should not let someone else help you manage
your money. It means you should not blindly follow someone's advice
or money management techniques. Everyone can benefit from gathering
ideas and suggestions for managing their financial affairs. You simply
need to pick the tools that work best for you.
Tip #2: Never put all your eggs in one basket...diversify.
If you want to lower the overall risk of your investment portfolio,
you will want to consider the benefits of spreading your funds among
a number of different investment types. This will help you increase
the overall return and lower the overall risk level of you investment
portfolio.
Tip #3: Save while you have a chance to
save.
There is no better time than the present to begin saving money. Setting
a goal for saving will help you focus on more effective money management
and prevent you from making unnecessary purchases. Unfortunately, most
people are not saving enough to secure a comfortable future. For example,
are you contributing the maximum to your employer's 401(k)? If not,
make every effort to do so. Because these are pretax dollars, you will
reduce your annual taxable income by the amount that you contribute.
Tip #4: Review your portfolio regularly.
By reviewing your portfolio regularly, will challenge your diversification
strategy and force yourself to analyze your investment direction. You
may find your portfolio needs to be "rebalanced" with a somewhat different
asset distribution approach. Once again, gather advice, consider the
advice, then you make the final decision. Don't let someone sway you
towards an investment that only "sounds" good. Make sure the research
is there to back up the investment idea. If you consistently review
your investments and gather advice, you will not have to worry about
making snap decisions.
For assistance in reviewing your investment
strategy, contact the professionals of our Union
Investment Management Group.
*Investment
services offered through Union Bank & Trust Company’s Trust Division.
Investment products: Not FDIC Insured - No Bank Guarantee - May Lose
Value.
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