Creating the right savings and investment strategy requires thorough consideration and research based around the investors desired outcome.

A cursory glance at the offers provided by banks show that money sitting in a bank will generally earn a low interest rate. It’s a fact that inflation in most territories is at best, on a par with, and at worst higher than the interest your bank will offer, meaning that the value of the money sitting in most banks will actually decrease in value over time.

That said, there are positive aspects to having disposable income on hand in need of unforeseen circumstances. But the wise investor will combine savings and investment to allow for a strategy that maximizes tax-efficiency, wealth protection and growth, whilst allowing for easy access to a portion of funds.

Savers and investors should consider the following:

Review regularly

Financial reviews and status updates of savings and investments should be made on a regular basis. It is policy at Belgravia Wealth Management to meet with our clients on a quarterly basis to ensure that the financial plans put in place are on track. Regular reviews also allow us to ensure that savings and investments comply with any tax modifications that may occur.

Types of investments

There are many types of investments like bonds, mutual funds, shares and stocks, and so on. Some investments offer fixed rates, while others may provide varying returns. Your Belgravia Wealth Management consultant will be able to provide advice on the most appropriate investment vehicles with the best returns.

Should you invest or save?

It’s a loaded question for which there is no catchall answer. Smart investors diversify risk and work with a professional financial consultant to create a strategy that helps them to achieve their financial goals.

There is a huge difference between saving and investing. When you save, you have your money at your disposal for sure, but it’s not working for you and is, as previously mentioned, deteriorating in value. Whereas when you invest, you are looking at mid-long term returns that deliver more value. At Belgravia Wealth Management we tailor solutions to meet each client’s specific needs, but as a rule of thumb it’s fair to say that diversification is key.

Contact Belgravia Wealth Management to find out more or to book a consultation with a financial consultant.

Download: Should You Invest Or Save?

Download: Should You Invest Or Save?

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