Mr. Paul Frimpong, a Chartered Economist And Global Head Of Membership, ICCE spoke at the Startup Dialogue. He gave some insights on investment and risk-taking.
Investment is the act of putting funds in an asset over a period in anticipation that there would be returns. Anything you put your money into that brings financial value can be described as an investment.
Risks are the probability that your investment might not yield or produce. One can either invest actively or passively.
Why do people invest? People invest as a plan for their young carrier or retirement plan.
Every investment comes with some sought of risk. The risk profile has to do with how much one is willing to lose. The types of risks are systematic and non-systematic.
Mr. Frimpong gave some tips for investment as;
- Flee the banks. Banks are preferably for saving and not investments. Some institutions are specially made for investments.
- Establish a plan and stick to it.
- Understand risk and risk-taking. The higher the risk, the higher the returns.
- Do not speculate, or follow tips.
Source: enterprisebureau.org
