Four of my investment funds have increased in value by more than 15% since the tax year end valuation in April. Others have done OK and only one (a good long term performer) shows a small loss. So the profits will be banked until either we decide to spend them on something worthwhile or we see a good investment opportunity.
Do you know how your investments are performing?
I find the online valuations from Hargreaves Lansdown invaluable in helping me keep track of what is going on. The process for cashing in profits is also dead easy.
A strategy like this is even more important if, like me, you are retired or semi-retired and are in a spending rather than accumulating mode. It is absolutely essential that you take profits at the right time and avoid selling when markets are low.
If you would like some guidance from me just text ‘PROFIT TAKING’ to 07770 575122 and I will be in touch.
I encourage you to adopt a “banking profits” strategy. It is even more fun if you know how you are going to enjoy spending those profits when they arise.
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