I have very little knowledge about investing. What are the platforms I can generate compound interest for my retirement? - Seedly
 

Family

Retirement

Career

Investments

Asked by Anonymous

Asked 6d ago

I have very little knowledge about investing. What are the platforms I can generate compound interest for my retirement?

0

Answers (1)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent

Before you start investing, it will be best to understand your situation. Here are some questions to help you:

  1. What is your capital?

  2. How will you want to invest your capital? E.g. lump sum or an amount on a regular basis

  3. How long will you want to stay invested? E.g. 20 years

  4. What is your risk appetite? E.g. How do you feel about short-term volatility?

  5. What is your objective for investing? In your case, retirement planning

Now, there are various platforms that you can invest, depending on the asset classes, e.g. bonds, equity, shares, options, investment-linked funds. Each class has its own advantages and disadvantages. Therefore, it will be good to have a good understanding by reading up on your own and to seek professional advice.

Additionally, your focus should be on guaranteed yield as we are looking at building a stable stream of funds for your retirement, i.e. during the period where you will have zero income. However, you may not want to lose on high returns in the mid-term. Therefore, having a proper wealth accumulation strategy is as important as knowing how to generate return. On top of that, constant reviews will help to keep your portfolio in check.

All things considered, have a full understanding of yourself and the risk that you are willing to undertake. Then decide on the asset class that you are going to invest your money into. In any case, diversify your money and do not put everything in a single asset class. When required, speak with a professional to gain insights to help you make an informed decision.

Here is everything about me and what I do best.

0 comments

0