Planning your investment: Step 1 - Know why you want to invest

• Before you invest, you should know the purpose of your investment, that is your financial goals and objectives. Your financial goals may be to:
  
  • Buy a car
  
  
  • Purchase a house
  
  
  • Send your children for higher education
  
  
  • Go for a holiday
  
  
  • Plan for a comfortable retirement in the future


• Your investment objectives can be either to:
  
  • Maintain the purchasing power of the principal amount invested
  
  
  • Obtain income from your investments
  
  
  • Grow your net worth
  
  
  • A combination of any of the above

You can achieve your goals by investing your savings based on the time frame when these financial goals can be met.

Also, it is important that your investment plans fit into your overall financial planning objectives to get the best possible results to achieve your financial goals.

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Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

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