The Head of Client Coverage at Stanbic Investment Management Services (SIMS), Desmond Bredu, has underscored the importance of having investments for young Ghanaians.
Speaking at the Smart Start Finance Series – Start the Year Right Conference 2024 held at the Stanbic Incubator, Mr. Bredu advised participants that it is necessary for them to still consider investments.
He said, “The last few years have been very difficult for the financial climate, especially in the area of investment. This has made a lot of people more skeptical when it comes to investing their money. There are still several good reasons to consider investing in these times. Whether we like it or not inflation continues to erode the value of money. You can protect it by finding the right investment. A lot of us have financial goals. Sometimes we do not have the resources needed to make these goals a reality. But by investing we can make extra money to make these goals happen. Investments are also a great way to earn a return on your money. this is a very crucial step in wealth creation.”
“To make the best out of your investments you must make a smart choice. You need to ask yourself why you are investing and identify your investment objective. You also need to see if it aligns with your risk tolerance. You need to be certain that you are willing and able to bear the risk before going in for any investment option.”, he added.
Mr. Bredu also shared a few tips to consider when investing, explaining that, “When investing, we must be aware of the risks involved. Instead of focusing on the returns only, make sure you focus on the risk as well. It is important that you fully understand the risk involved before you invest so that you know if you are truly capable of going forward with that investment. Another thing to consider is diversifying your investments. Do not put all eggs in one basket. Spread your investments so that if one is affected you still have the others. In investing, it is important to be well-informed. Read the news, research, and speak to professionals who can guide you and provide you with the relevant information that you need.”
The Smart Start Finance Series – Start The Year Right Conference 2024 is a Financial Literacy Event hosted by D.Bredu Financial Academy. Geared towards young individuals, the conference aims to equip participants with essential skills and knowledge for effective financial management and growth. The primary goal is to enhance financial literacy among the youth, contributing to a more financially informed and empowered generation in the country.
Source: Ghana/Starrfm.com.gh/103.5FM
