This is the time of year when many people are reminding themselves of their new year’s resolutions and trying to stick to them. A survey by Fidelity Investments even indicates that 54% of consumers plan to make money-related resolutions for the upcoming year. However, the world of financial management and investments can be intimidating for people with little or not experience. Capital strategist and Columbia Law School-trained attorney Sam Tabar has revealed his most helpful investment tips to assist those who are new to the investment world, particularly those who want to increase their net worth and plan carefully for retirement.
Tabar warns people to beef up their financial portfolio with commodity trading. Sam Tabar says that these types of investments are particularly risky. Commodity markets can be a lot more volatile than mutual funds and stock markets, so investors have to do their due diligence before they invest in commodities.
Tabar says that he wouldn’t recommend commodity trading for casual or beginner investors. It takes a considerable amount of research to make a profit in commodity trading. Commodity investors also have to have the financial stamina and knowledge to absorb any short term losses.
Investing in private businesses is another alternative to the traditional stock market. Social entrepreneurship is becoming more popular, and investing is social startups could prove to be a sound financial decision, since it allows investors to make money by helping others. Tabar knows about this personally, since he recently invested in THINX, a woman’s undergarment manufacturer with a socially conscious message. The company will donate seven sanitary cloth paths to AFRIpads for each pair of underwear sold. AFRIpads seeks to help needy young women around the African continent.
No matter what the investment or level of expeirence is, Sam Tabar emphasizes the importance of a diversified portfolio. He shares that it’s easy for new investors to get involved in a new and exciting financial venture, or a stock that is outperforming similar stocks. However, it’s important to remember that all good things must come to an end, and investors shouldn’t put all their eggs in one basket for overall financial safety.