If you are deciding to invest in anything your decision should always be based on a risk v return formula. The higher the risk the higher the return. Nothing in life is a guarantee.
The trick is the more you know and understand what it is you are investing in and how it works the more you can lower the risk and therefore can enjoy higher returns.
To find out if your practice is an investment download this article in the Medical Journal of Australia Your Practice as an Investment Your Practice as an Investment February 2011.
The real secret is you must be interested, committed and patient to any investment class you are comfortable with. Most importantly consider your options and be realistic about your returns and the risks involved. The more proactive you are the more your money will work for you and not the other way around.
David Dahm You Tube video coming check out our Webinar Events that covers this topic
So is your practice really a good investment?
Download an interview the Medical Journal of Australia did with Health and Life CEO & Founder David Dahm.
Are you really prepared to do what it takes to achieve what you want and understand there is a threshold if you set it? The bottom line is the higher the risk, the higher the return. You need to find your comfort zone (appetite for risk) or your adjust your expectations so your financial capability meets your needs. Remember the key is to identify a high return and manage the risk by making yourself financially literate.
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Knowing how much you need to live and retire is one thing. The other is understanding how to protect your hard earned savings, so your money works for you and not the other way around. The Global Financial crisis taught us to be more careful. Our “golden rule” is don’t invest in anything you do not understand or control.
For Managing Risks read on.