DIY Investing: A Starter for 10...

PERSPECTIVES: Darius McDermott outlines 10 key points to consider when embarking on a DIY investing career

Chelsea Financial Services 24 December, 2012 | 6:00AM

This is part of Morningstar’s ‘Perspectives’ series, which features contributions from third parties such as asset manager, academics and investment professionals. In this article, Darius McDermott, managing director of Chelsea Financial Services, provides ten top tips for managing your own investments.

1. Know your personal risk tolerance – what percentage of your money are you prepared to suffer paper-based losses in the short-term? Can you stomach seeing your investment go up and down?

2. Decide on your short-term and long-term financial goals – what do you need the money for, how much do you need and when do you need it?

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Chelsea Financial Services  is a firm of independent financial advisers and the first intermediary to discount initial charges on unit trusts and bonds, and later PEPs and ISAs.

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