People and Financial Firms
Selecting investment help should be a careful process.
"An investment in knowledge pays the best interest." Those words, penned by Benjamin Franklin, are valuable for all life, and no less for investing. Here is an ounce of prevention: 3 steps you can take to make sure that your investing is on the right track.
One can’t go around investing aimlessly. To be a good investor, you need to have a plan, set goals, and find good help. You could have a short term goal, like buying a house within a few years; or maybe you would like to save for retirement or your children’s college in the distant future. Once your goals are in place, decide on a financial plan that will best achieve those goals. There are many different financial advisers that can help you along the way. Remember to check on your goals and plan from time to time to keep yourself on track.
Despite having a good financial adviser, it is still important to do your own homework. To make wise decisions with your money, make sure you understand the workings of the investment world. Ask questions and find the answers. Do your own research. Websites like KansasMoney.gov are designed to inform you, so take advantage of them. Above all, make financial moves only when you are fully aware of the possible benefits and consequences of your decision. It’s better to have twice as much information as you need (as long as you aren’t overwhelmed) than not enough. As the old carpentry proverb quips: “Measure twice, cut once.”
Know the different types of securities:
*The information on this page is credited to IPT and Kiplinger. Their original materials are made available on the Kansas Securities Commissioner's website.