Staying on top of your investments

If you want to ensure the greatest rate of growth possible on your investments you are going to have to work for it.Unless you stay on top of your investments, you are not going to get the most bang out of your invested buck.Here are just a few things that you should be doing to stay on top of your investments:

Read over your periodic statements

If you have an investment account that is being managed by a broker or firm, it is likely that you receive periodic statements that outline the activities that have taken place on your account, the amount of increase you your account, the number of trades made on your behalf, etc. Looking through this summary can help you to determine if you are making the best sorts of risk decisions.If the activities in this summary are not acceptable to you, look into what you can do to make changes.

Make and keep regular appointments with broker

If your investment account is more substantial and you have a personal broker, then you may need to take advantage of appointments that you can make with your broker.You may find it easier to hand over your investment portfolio entirely to your broker, but you may have different opinions about the best way to invest and the only way that you are going to stay on top of the decisions that are being made to your portfolio by your broker on your behalf, is to meet with your broker to express your expectations and opinions.

Re-evaluate your level of contribution to investment accounts

Most people with retirement investment accounts through their employers contribute a percentage of their paycheck to that account.When you periodically re-evaluate your level of contribution to these types of investment accounts and contribute a higher percentage when you are able, that small additional contribution can really add up and make a significant difference over time.It is also wise to take advantage of these 401K type accounts when you can as many companies match a percentage of your own contribution, making your investments grow even more dramatically.

Shop around for your low risk investments

When it comes to low risk investments like CD's, money markets, and bonds, different banks offer different interest rates.Shop around and compare the rates of different financial institutions.Also consider any additional fees such as maintenance fees, and penalties as knowledge of such things will influence your decision of where your investment is the safest.

Make sure that you are being patient, not ignorant

Investing is a tricky business because even the best investor is going to have bad days and days with losses.The difference between a good investment tactic and a bad one is that the investor is able to learn form the bad investment decision and avoid like mistakes in the future.You cannot stay on top of your investments if you do not know how the shares in your portfolio are performing.You need to be able to have the patience to stick out through a market decline and the wisdom to know when it is time to sell.

Understand the legal/tax implications of your investments

Understanding the legal/tax implications of your investments includes having knowledge of any penalties or fees associated with having the account maintained.There is no one way that you must make your investments.Different brokers offer different rates and fees.Also, different investment vehicles have different tax rules associated with them.Some accounts require no taxes to be paid until money is withdrawn from the account.Other accounts require that taxes be paid annually but that when the money is withdrawn it is withdrawn tax free.There are many more different tax laws that you need to know about if you are really going to stay on top of your investments.