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Successful Investment Starts With Assessment

Aug 17, 2007
Almost everyone would like to retire to the lap of luxury and never have another money worry the rest of their lives. Unfortunately for many, this is simply not possible. But with proper investing and asset management, the chances of this being a reality can be greatly improved for many. The key is identifying goals, finding out how much income can be dedicated to investments and sticking with a plan once it's created. Assessment solutions come into play here.

Whether it's saving for a child's education, a new home or retirement, a plan must be put into action for financial goals to be realized. Assets must be assessed and a starting and ending point defined. This will help an investment planner guide a client down the right path for attaining their goals. While it's not likely that every investor will have the assets necessary to ensure a second home in the French countryside, reasonable goals should be attainable with a little diligence.

When making investments, assessments are key. Not only in the goals of the investments, but the investments themselves. A good financial planner will consider the following things before suggesting an investment strategy for clients:

* Assets versus liabilities of a client. This means taking a look at the bottom line. Oftentimes it's advisable for clients to take care of high interest rate debts before investing in stocks, bonds, real estate and other assets. These can be rolled into one loan and paid off quickly or otherwise paid off, but too many debts can sideline an investment plan.

* Personal goals of the client. Whether the client has 10 percent of their income to dedicate to investments or 50 percent, the goals of those investments must be reasonable and clearly defined. Goals can include money for retirement, a new home, a second home or just a more secure financial future.

* Amount of time allotted. If a person has 30 years until retirement, the strategy will be much different than a person with 10. The time involved will help determine if high risk, high return plans are more in order or if safer, lower return buys are the smart route to take.

* Type of diversification desired. It's never a good idea to put all of a person's eggs in one basket. Whether it's a combination of stocks and bonds or real estate and mutual funds, a client's wishes should always be taken into consideration.

Purchases, too, must be assessed to make sure they meet the client's investment strategy. Some buys are more risky than others, but if high returns are desired they might be the way to go. Others are slow and steady, but almost always guarantee a favorable rate of return.

The best place to start when making an assessment of finances is with the person and his or her goals. These must be clearly defined for a plan to be put in place that makes sense. Assets must be looked at as well along with income available to dedicate toward investing. Unless the entire picture is drawn out, the investment strategy runs the risk of not producing the desired results. Assessment solutions are key in any successful plan.
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