Are you ready to invest?

If you’re new to investing, these key financial planning questions can help you decide if you’re ready to get started.

The value of investments can go down as well as up, so you may not get back what you invest. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.

Answer these five questions to see if now is the time to start investing.

1

Have you already paid off any personal loans you may still be paying interest on?

1

Have you already paid off any personal loans you may still be paying interest on?

Yes

Please select an answer and click Next to continue.

Looks like you're ready to start investing

The best investors set up a firm financial foundation before they begin and make the most of expert guidance along the way. You're in a good position to take the next step.

Looks like you have a few things to consider before investing.

We believe investing for the long-term should begin with a firm financial foundation. Consider looking into the points below before you decide to invest.

Why are these points important?

Taking some of the basic steps outlined in this quiz could really help strengthen your financial position now, allowing you to focus on making the most from your investments, later.

Q1.

Have you already paid off any personal loans you may still be paying interest on?

Your answer:

Left unpaid, interest on personal loans can really start to rack up. We think it's sensible to pay this off first so the only interest growth you have to think about is the one working in your favour.

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Q2.

Do you have enough savings to cover six months' worth of normal living costs?

Your answer:

The more time you give your investments, the more opportunity you give them to grow. That's why it's best to leave them untouched and dip into your savings if you need the money quickly. So, build up your financial cushion for that extra peace of mind and to help your investments stay geared towards the long term.

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Q3.

Does your employer already contribute the maximum possible amount to your pension?

Your answer:

Every employer in the UK must put certain staff into a pension scheme and contribute towards it. Some encourage you to contribute by promising to match anything you pay in on top of their contributions so it's worth checking you are making the most of it.

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Q4.

Are you looking to invest for at least 5 years?

Your answer:

The effect of growing interest on interest becomes much more noticeable the longer you let the markets do the work. If your time horizon is too short, you won't see this effect take off and your investments might find it harder to recover from any sudden market movements simply because of a lack of time.

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Q5.

Are you comfortable selecting an investment without receiving financial advice?

Your answer:

Spending time getting to know your options and the right investments for you is paramount. We offer free guidance and tools but if you're dealing with a tricky situation or you would rather outsource the decisions to a professional, consider seeking financial advice. There will be further fees on top of your investments but if peace of mind is top of your priorities it could help.

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