Plans developing for women to become bishops

For true success we all need to embrace flexibility and change, which is the case with investments too.

07:02 17 July 2013

Change is one of the few constants in life, and one concern for some people may be the case with the push for allowing women to become Bishops. One of the key factors of successful investing is being able to determine when you should change an investment or wait.

Flexibility in an investment portfolio is paramount to success. You should perhaps analyze your investment portfolio about every six months to be aware of the trends and see if you need to make any changes, but remember not to be too hasty.

As always, consult a professional for the best advice on how to manage your portfolio. Here are just a few common sense rules to employ when reviewing your finances:

• Financial goals—whenever you review your investment portfolio, keep your financial goals in mind. It helps to utilize software, apps, or other tools to help you keep your financial goals organised for an easy comparison when your review your portfolio. You’ll be able to see if you are on track, or if serious adjustments should be made.

 

• Diversity—you don’t want your entire investment portfolio to cater to high-risk ventures. You should have a variety of types of investments, as well as high and low-risk ventures. The diversity will give you maximum opportunity for growth, while ensuring that you won’t lose everything if you suffer from a high-risk venture gone bad.

 

• Changes—always consult the advice of an investment professional before you decide to make changes. If you’ve noticed that a company you invested in isn’t doing well financially, or has recently been accused of unethical behavior, it’s probably a good time to find a better investment but professionals will be your best asset to make the most of the change. Once you’ve had your portfolio for a few years, you should start to notice an overall upward trend.