DISCUSS THE RISKS YOU'RE WILLING TO TAKE
Avoid investments advertised as 'no risk'. All investments have risks. To weigh up the risks you could live with, work through these issues with your adviser:
- What you need to live on?
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- What you can afford to save - a budget will help here? Also see our online budget planner
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- What you must put aside for major purchases and emergencies?
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- How secure is your job, business or current investments?
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- What can you afford to lose without it affecting your lifestyle?
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- Your investment goals: are they short or long term?
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- Your age, health and retirement plans.
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- Your personality and your ability to sleep easily at night - some investors are born gamblers, while others won't consider anything riskier than an online savings account.
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