A simple study of demographics will show that people are living longer, and as such extra income has become an essential ingredient to include in your financial plans. When you come to invest typically people have two goals in mind: to grow the value of your money and/or to generate an income from that money. As such different investments will often be geared towards one of these goals depending of course on your own personal reasons for investing. There are many ways in which you could plan your investment strategy in order to achieve your goals. Reinvesting income earned, using tax efficient investments, checking risks, and looking at bonds are just some of the ways in which you could plan to gain extra income. Seeking professional financial advice could also help you to make decisions on how best to plan your investment strategy.
