In my first article I wrote on the importance of saving and investing your money. However, you must know where to invest and how much to invest? These questions vary based on your individual case. This is why it is important to research the various investments and savings accounts out there.

  Never fully trust someone with your money. At least have some knowledge or background on what you are doing. For example, when I went to see my financial advisor, I had already done research on mutual funds and IRAs. I’m not saying not to trust your financial advisor, but don’t be clueless. Some people will use your ignorance against you. You might miss out on better returns on your money, because your financial advisor knows that you don’t keep up with the financial scene.  

  Research is the key to investments such as stocks and real estate. With stocks, read up on the company current financial standings, any new projects underway, rival companies, etc. You want to know anything about that company that could help the value of the stock rise or fall. Another thing to consider is whether or not the company pays a dividend. A dividend is profits a company earns and divides it among the stockholders.

  Some companies reinvest the profits instead of giving dividends. A good website to research different types of investments is www.morningstar.com. I find the information at Morningstar very useful. When thinking about investing in real estate, do research on the neighborhood and property value. Evaluate whether it would be more profitable to sell or rent the property.

  Take some time to do a little research; you will be happy you did.

Contact Shavon at SMagee@b-now.com