There is no shortage of magazines, media articles, internet-based guru’s and so on that suggest “best” investments. There are also thousands of advertisements that at least imply a particular investment is the best thing for you...
Each of these sources may be quite right in pointing out “good” investments, but none of them can tell which is the best investment for you as they know nothing about you and what you need.
What is best in an investment for any individual will be determined by many variables, including:
- The investors age
- The investment time frame
- The amount of money being invested
- What is the money going to be eventually used for?
- The level of income the investor receives from other sources
- Does the investor require income from the investment along the way?
- Locked or unlocked requirements?
- The investors attitude to risk
- Current investments already held by the investor
- The investors goals and objectives
- The investors current financial position, how much debt do they have?
- Unique personal circumstances (e.g. special needs children; dependent family members, etc)