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When it comes to investing, women are just now stepping up to the game. Whether you are a single or widowed woman, a successful entrepreneur or sole wage earner, evaluating investments isn't easy for anyone. Therefore, the best investment for women is obviously the one that performs well in the end. To get you started with investing, here are 5 investment tips for you. 1. Set Financial Goals If you want to reach your financial goals, then you need to know what they look like. Some people envision saving up a certain amount of money in order to retire. But this can be tricky, especially if the number seems really high and out of reach for you. Instead of aiming for a certain amount of assets, you might want to achieve a certain monthly stream of income. What's so great about having a stream of income instead of a big savings cushion? A regular stream of income is easier to budget with on a monthly basis than a big pot of gold, because eventually that pot will empty out. 2. Keep a Rainy Day Fund Having a rainy day fund is not exciting or romantic. However, if you don't set aside money for the tough times, then you may end up dipping into other funds that were earmarked for your retirement. Of course there's nothing wrong with investing aggressively to help you reach your goals faster, but you definitely can't do that without a rainy day fund. Most sources advise a rainy day fund of 3-6 months of current living expenses. If you're self-employed or have varied earnings, then you should probably have more. If your type of work is hard to find, then you might even want a bigger cushion. 3. Monitor Your Portfolio Many women set up an investment fund and put things on autopilot. Automatically redirecting some of your earnings into your retirement fund is a great idea, but you still need to keep an eye on those investments. You probably receive an annual performance report of your holdings, and that's a good time to evaluate your investments. Your annual reminder is a good time to speak to your financial advisor about your portfolio. You may want to discuss whether all of the assets you have are still a good fit for you. One thing that you probably shouldn't do is watch the ups and downs of the market on a daily basis. After all, you're not a day trader, but you're in it for the long haul. 4. Assess Your Level of Risk There's nothing wrong in making risky investments if that's what you want to do. Every investment vehicle offers different products with different levels of risk. If you invest in high-risk options, then you need to be prepared to lose all of your money. Ideally, you won't opt for the high-risk opportunity with your entire portfolio. But if you have a little bit of money to play with, then by all means go for it. On the other hand, if you're averse to risk, then you should play it safe with most of your earnings. After all, your portfolio shouldn't be so risky that it keeps you up at night. 5. Keep Up with the World You don't have to know what's going on in the world in order to make good investment decisions. If your financial advisor is keeping the pace, then you might be okay. On the other hand, if you read financial journals and keep up with trends and changes, you might be even better suited to directing your investments. With all of these tips in mind, it's still important to choose an investment planner to help you. Obviously, the best investment for women is the one that pays well in the end. Engaging Women in Wealth Women are seeking advice about financial planning, investments and money advice from expert women financial advisors with more financial prosperity Visit our page on http://www.engagingwomeninwealth.com/ to see our page today!
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