Money Goals on my Mind
2021 in Review
In the words of Yvonne Woon, “sometimes, you have to look back in order to understand the things that lie ahead”
At some point in the course of this month, some of us have had to reflect on and measure how certain areas of our lives have fared (career, academics, relationships, finances, etc.) with respect to the goals we had set when the year began and taken stock of your 2021 report. How well did you do?
* Saved enough💪
* Not nearly enough 👏
* Didn’t save at all🙄
Whatever your current status, don’t beat yourself up.
At wealth.ng, the team has also had to look within to reflect on the year so far and plan ahead for the new year. We would also like to know how your investments fared this year. So, the big question to you is, did your investments perform as well as your expectations in 2021?
Here are some things you can ponder on that can help measure performance:
- What was your best investment decision and why do you think it was the best?
- What was your worst investment decision and why?
- Were you a victim of any Get-rich-quick or ponzi schemes?
- Did you make any new investments due to peer pressure?
- Did you explore or just stick with the known?
- Did you invest in educating yourself or anyone around you?
- Did you take out funds from your investment to meet up with the rent deadline?
I’m guessing you got flashbacks of some sweet, bitter and bitter-sweet memories. Whatever the case may have been for you, I’m sure you’ve learnt tremendously from it enough not to make the same mistakes in 2022.
How to improve your portfolio performance in the new year
If you have been following the Wealth corner through the year, you will recognise many of the points about to be outlined. Truth is, these things are too important and cannot be overemphasized:
Understand properly the investment decisions you want to take and why they are good for you. Do not just take someone’s word for it. Remember, Warren Buffett, says, “Risk comes from not knowing what you are doing. Take your time (although, not too much) to understand where your funds are going.
2. Diversify your portfolio
Have a broad mix of investments and spread your wealth. Do not put all your funds in one sector or asset class. This will help minimize your risk and maximise your returns.
3. Look for Safe Investments
It is quite understandable that you might be worried about how safe your capital is when you eventually decide on the investments you want to purchase, do not fret! When you have a self-service platform like Wealth.ng that provides you with your desired level of reliability and payout, You are safe!
It’s day 365 of 365. Have a great time with family, go ahead with your end of the year routine, see you in the new year. Cheers!
