A step by step guide: 6 steps to create your personalised investment portfolio
A step by step guide: 6 steps to create your personalised investment portfolio
Did you know the way you spend and invest your money can be as unique as yourself? Did you know you don’t need to follow the crowd? You needn’t do what your friends do or what your parents did.
Your money is a deeply personal matter. And, if you’re not putting your stamp on what you do with it, you’ll end up living a dissatisfied life. So, here are 6 easy ways in which you can express your uniqueness in your money.
- Know you’re unique!
Don’t follow the crowd.
The first step to customising your money habits is to have a deep knowing that you’re unique and you needn’t be under any pressure to imitate anyone.
All of us have our own likes and dislikes. Even amongst your closest circle of friends, there are things you enjoy that your friends don’t. Think about the last time you went to a restaurant with your friends. Did you all order the same dish?
What does this mean? If you can have your unique preferences with what you eat or the hobbies you pursue, shouldn’t you be making for yourself a ‘you specific’ plan for your money?
Another thing. We’re all good at different things. Our skillsets and talents are dissimilar to each other. That’s why people pursue different lines of work. If this is so, then why should you be spending and investing your money like the rest of the crowd?
It’s your money. You should know what to spend it on and where you should invest it.
2. Set personalised financial goals!
You need a plan. So work out your unique budget.
Knowing you’re unique is the first step. But that’s not enough. You need to be clear about where you want to go with regard to your finances and how you intend to get there.
This is why you need to set clear financial goals.
“I want to have x amount of money in y period and this is how I’m going to get it.” A statement like this is essential if you want to live out your uniqueness.
If you don’t sit down and work out your goals, you’re likely to be caught up in the hustle of life and become one among the crowd. Say goodbye to your individuality and subsequently to a lot of your dreams and vision.
So, be alert. Be smart. Take control. Set well-defined goals for your money.
3. Get ultra-basic with your money
How are you going to achieve your goals? You need a master plan.
You can set goals. Anyone can. But how are you going to get there? That’s the action plan. With no action plan, you’re likely to end up as a wishful thinker or worse, an unrealistic dreamer.
So where do you start?
Start with the basics. How long do you want to invest? How much are you going to spend and how much are you going to invest? What’s your investment portfolio going to look like, and will you be satisfied with it? What’s your appetite for risk?
These are some of the fundamental questions you should ask yourself before making a financial plan. The more you think about these things, the more unique your financial perspective becomes.
4. Invest in sectors you’re familiar with
What sectors are you familiar with? Put your money there.
When it comes to growing your money the easiest way to get on top is to get into industries, you’re familiar with.
The challenge with the digital age is not the lack of information. It’s the overabundance of it! Even the greatest minds, government leaders and business experts find it difficult to keep track of everything that’s happening. What does that put us?
Unfortunately, if you want to grow your investments, you need to have a good knowledge of the sectors you’re putting in your money. So, how do you beat this challenge? You get into what you’re already familiar with.
Look at your educational background, your work experience and your exposure to businesses. Use all these to your advantage.
5. Invest in sectors you’re interested in
Your interest in a business sector will keep growing your money.
This is, in fact, the best way to not only personalise your assets but also grow them.
When you’re interested in something, you’ll be naturally inclined to learn about it. Nobody needs to push you. Studying and researching about it won’t be a chore. Motivation comes effortlessly. That’s how the human brain is wired.
So, why not capitalise on this? What kind of businesses and brands do you love? Is it in mining? Is it in finance? How about brands like Microsoft and Apple? Spend a little time asking yourself what you truly love reading and learning about.
Then find the best companies in those sectors. Go to trade shows and expos. Buy sector-specific magazines. See what’s happening in the industry. Who are the new players? What direction are the big firms taking? What investment opportunities can you spot?
Study these things and take the plunge. You’ll enjoy it.
6. Invest in alternative assets
NFTs, Cryptos, Crowdfunds, whatnot. Add alternative assets to your portfolio.
When it comes to a tailor-made investment suite, nothing beats your choice of alternative assets like crowdfunds, cryptocurrencies, peer-to-peer lending, NFTs and such.
Why? Because these are high-return assets and therefore entailing high-risk. When you include these in your kitty, you’re at the highest possible level of personalisation and self-expression.
Are you generally a risk taker? Or do you usually play it safe? How do you go about at work? Do you break norms or do you tend to follow established patterns? And, how would you go about with your money for the kind of returns you want?
The level of risk you take varies from person to person. That’s why you need to pick your personalised mix of these alternative assets based on the trade-off between the fear of losing money and the joy of making returns.
Check out CrowdCandy’s crowdfunding platform. At CrowdCandy we make sure that we thoroughly study the companies before we let them on our platform. So, you have peace of mind that your money is safe.
For as little as $100 per month, you can invest in a firm you love. Why wait? Go, ahead and start building your ‘you specific’ portfolio.