Whether you are new to investing or a professional, there will always be some risk. You want to make money movements that can be successful.
TOLEDO, Ohio – The past year has been a challenge for many purses.
Some are looking for ways to make up for some of this loss of income.
WTOL 11 spoke to a local financial expert who helped figure out what it takes to invest your money smartly.
“Risk isn’t just one size fits all,” said Kirk Weldy, vice president of Investment Advisory Services, CIG Financial.
Whether you are new to investing or a professional, there will always be some risk. That’s because the stock market isn’t always predictable and some people are bigger gamers.
Weldy says when you invest you must be willing to potentially lose something in order to get the reward you are looking for.
The amount of money someone risks is different for each individual due to various factors and the way we want to use our money.
“You could be extremely aggressive, you could be more conservative and that’s fine,” said Weldy. “Risk isn’t just an age-related thing. It can vary from every account you have. Every person is different, every financial situation is different.”
Weldy compares investing to a card game or baseball. No matter what step you take, you are always taking a risk.
You want to take a step that will give you the opportunity to be successful.
“I think the ultimate question is what risk I am taking and why I am going to take it,” said Weldy.
It also says that you can make money as soon as you can lose it so you want to be familiar with the amount and where it is going.