{"id":5315,"date":"2019-05-16T09:12:47","date_gmt":"2019-05-16T13:12:47","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=5315"},"modified":"2019-05-16T09:12:47","modified_gmt":"2019-05-16T13:12:47","slug":"invest-according-to-your-needs","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/investment\/invest-according-to-your-needs\/","title":{"rendered":"Invest according to your needs"},"content":{"rendered":"
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You know where you stand financially, you\u2019ve made a budget and you\u2019ve determined how much you want to save weekly or monthly for future projects. Is your project to buy a house, retire comfortably or pay for your children\u2019s post-graduate education? Whatever it is, the way to make it happen is to invest for the long term.<\/p>\n<\/div>\n

The difference between saving and investing<\/h2>\n

Savings are the amount you are able to put aside, on a regular basis or occasionally, in a savings account. The money set aside is secure, but earns little. In fact, returns on savings accounts may not be high enough to allow you meet your long-term investment objectives. But in the short term, putting money aside in a savings account is an effective way to establish an emergency fund so you can be prepared to meet the unexpected.<\/p>\n

For long-term projects, it might therefore be better to consider investing. Even though each investment has its share of risk, investments will generally yield higher returns than savings.<\/p>\n

Not sure where to start?<\/h2>\n

Before making hasty decisions, follow this 4-step investment approach.<\/p>\n

Step 1 \u2013 Define your investment goals<\/a>: Which project do you have in mind? Are there more than one? Are they long-term or short-term projects?<\/p>\n

Step 2 \u2013 Determine your investor profile<\/a>: Are you a cautious or risk-tolerant investor? Before choosing your investments, it\u2019s essential you determine your investor profile.<\/p>\n

Step 3 \u2013 Learn about the various types of investments<\/a>: Get an overview of the various types of investments available to you.<\/p>\n

Step 4 \u2013 Select the investments that are right for you<\/a>: Determine which investments meet the needs of your investment objectives and investor profile.<\/p>\n

If you need help<\/h2>\n

The terminology used in the investment world can sometimes be challenging for new investors. See our Glossary of investment terms<\/a>\u00a0to make sure you thoroughly understand the contents of this section.<\/p>\n

Money\u2013saving idea<\/h2>\n
\n
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If you\u2019re under the impression that you\u2019re not earning enough to be able to put money aside, take a closer look at your day-to-day spending. Do you stop and get a $1.50 coffee every day? If you were to put this amount aside, you\u2019d save $375 a year! When it comes to saving and investing, even the smallest gesture can make a difference. You could even, for example, consider having a garage sale to rid yourself of everything you no longer use. The possibilities are endless!<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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