At Style Theory, we want to encourage and empower women in all aspects. So in the month of November, we co-hosted an investment talk to teach the women of Style Theory some key considerations when making investment decisions.
We partnered StashAway, a wealth management platform and academy that hosts investment sessions to help people better understand financial and wealth management.
Amanda Ong, Head of Client Engagement and PR at StashAway, began the class by sharing statistics on how women have traditionally left financial making decisions to men and it may be intimidating taking a step into investing on their own. With that being said, she shared four key points to consider when starting their journey in investment.
If you’ve missed the session, worry not! Here’s a summary of key pointers and what to look out for when making investment decisions:
Your timeline determines what kind of investment you should be making. While considering your timeline, it is important to understand your goals. For instance, short-term goals and long-term goals require different financial investments. Thus, understanding your timeline will determine the product you eventually choose to invest in.
#2. Risk Tolerance
The target risk should reflect your personal situation, goals, timeline, as well as preferences. These factors determine your level of risk tolerance on a spectrum between conservativeness and aggressiveness. The point at which you fall in the spectrum will help determine the type of investments as well.
As layman as it can be, don’t place all your eggs in the same basket. When investing, it is important to diversify and invest in different products. Your returns will depend on economic conditions and investing in different products at once may pose lower risk as they perform differently in different situations.
Fees are extremely important to take note of as they would affect your return on investments. Every investment has its unique fees and commissions so it is important to take into consideration the fees while calculating your final net return!
There is no right time or right formula when it comes to investment. Find what works best for you based on your personal timeline, goals, and financial situation. We hope this short summary is helpful and encourages you to try out investments on your own! Find out more at Stashaway.
If you’ve missed this chance at our Community event or want to read want more tips and community sharing, follow us at @styletheorysg to learn the top tips from our workshops.