An investment is something you purchase or put money into with the goal of generating income or wealth in the future. There are various reasons you may wish to save or invest money, potentially for your children or for your own personal retirement reasons.
Cash savings which you put into a bank or building society account are a type of investment; your capital is risk free, and funds are accessible at short notice, however the rate of interest is likely to be relatively modest. Other types of investment include:
• Shares - Buy stake in a company
• Property - Invest in a building
• Fixed income investment (bonds) - Loan your money to a corporation or government for a defined period at a fixed or variable interest rate
To spread the risk, it is recommended to invest your money into a variety of products and asset classes; this is called diversifying.
At Peterkins, we can combine your financial planning and legal management. Whilst weighing up the different investment options, we can
draft a will and make
power of attorney arrangements.