Saving and Investing: A Smarter Approach to Funding Your Goals

We all have a list of big-ticket items we want to see become reality. Like driving off in a brand-new vehicle, making a down payment for your ideal home or even taking that trip to Bali you’ve always been talking about. While a list like this can seem out of reach, it really is not. All it takes is the right investment decisions, some financial discipline and patience so you can be revved up, turning the key or off jet setting sooner than you think. Let’s show you how it’s done stress-free, debt-free and drama-free in 2023.

The best place to start is with a plan.

While we’re outlining how to start, you can reach out to develop a plan with our Financial Advisors today!

Determine your goals BEFORE you start

How much money do you need to achieve your big-ticket item? When do you need the money? Is this a one-off goal or a recurring goal? The earlier you set goals the better because it gives you more time to save.

Invest a predetermined portion of your income

Once you’ve determined your goal it’s time to budget towards it. Make sure to factor in all your expenses, including living expenses, debts, and savings goals so you know exactly how much money you can put towards your big-ticket item.
Allocating a portion of your income to your needs and wants each month can be as straightforward as setting up a monthly standing order that ensures your goal is a priority.

Explore Investment Options that Suit You

While saving is a good start, investing provides you with a higher potential for faster financial growth. By investing in any of our funds, you’ll have the opportunity to benefit from potentially higher returns compared to traditional savings accounts. Explore more by clicking on the links below:
• Republic Caribbean Equity Fund (RCEF)
• Republic US Fixed Income Securities (RUSFIS)
• Money Market Fund (MMF)
• Tax Incentive Saving Plan (TISP)
Plus, it’s important to diversify your investment portfolio.

Every Bit Counts!

It’s okay to start small when investing. Investing even a small amount of money each month can help you live the best life you desire. As you become more comfortable with investing, you can even increase the amount of money you invest.
Pro-tip: Re-evaluate some of your current spending habits like seasonal splurges that could be redirected into your savings and reduce the time it takes to get you to your goal!

Timing is Everything

Haven’t started saving yet? Remember, the best time to start is always now.
For a savings goal of five years or less, a combination of short-term and stock market investments can be a good strategy. This allows you to take advantage of the higher potential returns of the stock market while still preserving the safety and accessibility of your short-term investments.

Speak with a Financial Advisor

Learning about investing can sometimes feel like you’re opening up Pandora’s box. It does not have to. You have questions? You can trust that we have the answers. Once you have a clear understanding of your goals, our experienced Financial Advisors can work alongside you to assess your risk tolerance and get you on the road towards realising your goals.

Change is Expected

Life happens and this can result in unexpected expenses or much anticipated increases. We understand that as things change, your savings goals may also change. What makes investing stress-free is that
you’ll have an Investment Advisor to navigate these changes with you. You’ll be able to realign your portfolio when needed, to ensure that it continues to align with your goals and risk tolerance.

The Ball is in Your Court

You have all the information you need to get off the bench and onto the field of investment. Our Financial Advisors are ready and waiting to coach you and provide all the support you need. Remember, your dreams don’t have to remain dreams. It all begins with one call… Let’s chat!