If you have successfully implemented a budget and savings plan, chances are you’ve developed many of the skills required for investing. This can include assessing risk, fees, interest rates and accessibility to various asset classes. Yet, you may not consider yourself an investor yet. 70% of Australians think it is important to educate themselves about investing and 69% report they are confident they can invest their money (less than those who back themselves to successfully budget and save). Most forms of investing bring more risk than simply budgeting or saving, and you should be aware of this before you jump in. Just one third of Australian investors think about the risk-reward ratio, and less than 6% consider the more nuanced details of investing such as diverse asset allocation, industry performance, and tax benefits.* Your Synchron adviser will clearly explain these details and recommend the a suitable course of action for your particular financial and lifestyle goals.
* Australian Government Financial Literacy Foundation