So, can you trust yourself or social media experts to help you determine how much risk you should take with your money? While you may think you have the time to do your own research or believe in the finfluencer’s recommendations, what you need to structure for yourself financially is often a lot more complex and challenging, requiring you to be more dynamic than a ‘set and forget’ approach.
This is because over the course of your financial journey your personal circumstances may change (divorce, retirement, etc.) or you may need to make tweaks to your portfolio because of macro-economic events that are having an impact on markets. Alternatively, you may not need to do anything at all and keep a cool head, even if markets are volatile. But few people have enough knowledge to stay calm in such circumstances, especially if they see the value of their investments falling significantly.
When it comes to investing, finding the right level of risk appropriate for you and your objectives is essential. However, managing investments on your own can be daunting, especially when financial markets ebb and flow (sometimes quite unexpectedly and aggressively). Relying solely on a DIY approach may not always be the best strategy for you, as professional help can provide valuable insights and make the right adjustments to your investments when needed.