Follow our top ten investment tips, and find the right investment for you.
1. Be clear about what you want to get out of your investment. Do you want to supplement your income now, make your capital grow for the future or a combination of both? This will help you decide what is the best investment for you.
2. Think about how much you can afford to invest and how long can you afford to commit your money for.
3. Be wary of investments promising a high return and low risk - if it looks too good to be true, it probably is.
4. Carefully consider how much risk you are comfortable taking and don't invest what you can't afford to lose.
5. Consider whether you want to take an active role in managing your investment decisions, or if you'd prefer to get a fund manager or stockbroker to do it for you.
6. Be aware of the impact your investment will have on the tax you pay, and make the most of any tax breaks that are available to you.
7. Make sure you know exactly what you're signing for before you invest - get all the background information you need and make sure you're aware of the risks as well as the potential rewards.
8. Check if there are any charges you will have to pay with your investment and think about the impact these could have.
9. Remember to check on your investments regularly to see how they are performing.
10. Don't confuse paper loss during the course of your investment with real loss, when you cash in.