Matariki is a good time to think about looking after you, your whānau and your finances.
The Māori calendar year is guided by the stars and the moon, so new year (Matariki) is traditionally celebrated in mid-winter. As Matariki approaches what’s on the horizon for you, your whānau (family) and friends?
Matariki is a good time to reset and plan for future wellbeing and opportunities. What do you want for you and your loved ones? How can you plan to grow your money wisely to help get you there?
Investing could be the answer.
Here’s five key things to help guide your investing decisions and take control of your financial wellbeing.
Have your goals changed in the last year? Do you want to extend your house, build reserves for the unexpected or start your own business? Having clear goals in mind can really help you stay on track.
Covid-19 reminded us of the risk to our health. What about financial risk? There’s always some form of risk in investing. The main thing is finding the right level for you. Generally, the greater the return you seek, the more risk you have to be prepared to live with.
Growing your money takes time and effort. Ask yourself - how long until you want to cash out your investment? The longer the timeframe, the more time for your investment to potentially grow. Adding to your investment regularly can also make a big difference.
Are you investing a lump sum or planning to contribute more regularly? Either or both are fine. The main thing is working out what you’re putting in is likely to make your goals a reality.
If early 2020 has any lesson for investors, it’s to expect the unexpected. Ups and downs (volatility) are a fact of life when it comes to investing. If you’ve got your goal and plan in place (and stick to it), you’re more likely to come out of volatile periods on the right track.