Question

Why is it important to have your financial plan and goals in place when considering investments

Answer 1

It is important to have your financial plan and goals in place when considering an investment because investments have many risks that would need to be considered because of the many types of investments and how much money you want to risk losing.

Answer 2

Though the word investment sounds really good to us, but doing this is not a walk on the park. Investments have so many risks to be considered and not being knowledgeable enough could lead to financial disaster. It is very important to set your financial plan and goals when considering investments because there are many types of investments that are available in the market and it may also base on your risk appetite. This is also to consider if how much money you are willing to risk and lose because investment is not just gaining all the time.