Tahn Hendricks, Financial Advisor at Hereford Group shares tips to diversify your financial portfolio.
Africa Melane speaks to Tahn Hendricks, Financial Advisor at Hereford Group who shares three tips to diversify your financial portfolio. Listen for the tips below.
Hendricks says, investment styles are like blending growth and value investments and adopting active and passive strategies coupled with the right time based on investments made for your short and long term needs will help you achieve your future financial goals.
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Having a good financial advisor is also important – you’ll have someone to tell you when something imminent will happen so you can plan for it with professional help – just ensure your financial advisor is someone you trust, says Hendricks.
Hendricks also advises that it’s important to diversify investments and savings in your portfolio structure for a secure financial future.
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To achieve financial diversification, Hendricks recommends making three financial moves:
1) Asset allocation
This is diversifying your money amongst different asset classes like bonds, real-estate and cash.
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2) Geographic diversification
Invest globally to reduce your exposure to the economic conditions of a single country or region.
3) Sector allocations
Allocate investments across various industries and investments to avoid concentration risks.
Overall, Hendricks says that saving something is better than nothing so start as soon as possible.
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Scroll up to listen to the full conversation.
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