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.