How should I invest my money? 🤔
Stocks, loans, bitcoins or rather real-estate? The opportunities are plentiful when it comes to investing and still most people invest their money the wrong way. Often they take too much risk, invest in a couple of random stocks or bitcoin and forget that all investments should be in balance.
In order to help you invest the right way, you should especially remember these 3 points when it comes to choosing investments.
1. Your previous financial life
How you have been dealing with your money and how much risk you are already taking, has a big impact on how you should invest your money in the future.
Selma calculates how risky your current investments already are and matches them with the new chosen ones.
2. Your financial future
How much money can you save per month? What is your investment goal? And when are you retiring? 🤔
General rule: Younger people can take more risk with investments as there is still a longer time period of earning money until their retirement. But there are many more factors.
Selma makes an educated guess about your financial future and about how much you are able to save until retirement. There Selma automatically considers loans you might have to pay back or potential expenses in the upcoming years (e.g. buying a house).
3. Your optimal risk level
Do you rather identify as a skydiver, or do you really like knowing what's next at all times?
Everybody reacts differently when it comes to money. Therefore everybody needs to look really closely at how much risk their investments should involve. So the question of how much risk one should take is way more important than how much risk one might think one wants.
In order to make sure, you only take as much risk as you should, Selma looks at your emotions and reactions when it comes to crisis scenarios and loss. This way Selma finds out what kind of attitude towards risk you really have.