New to investing

Explore our easy to read articles designed to help you on your investment journey.

Setting investment goals

  • 2 min reading time
Sowing beans for growth

Before you begin investing, it’s essential to think about your life goals and what you need to achieve them – so you have a clear vision of the investment journey ahead.

What you will learn

  • Why it is important to define your investment goals
  • How different life goals can help shape your investment strategy
  • Which questions you need to consider before getting started

Everyone has their own goals in life – which can include saving for a home, furthering their education, starting a business or building a nest egg for retirement.

What’s your goal?

And these can be short-, medium- or long-term in nature, such as:

  • Creating an income for your retirement
  • Starting a business
  • Saving for your children’s education
  • Buying a house
  • Building an inheritance for your family
  • Creating an emergency fund to cover unforeseen circumstances

You may be investing for one specific reason, or have a number of different goals in mind. Whatever the reasons, the clearer the objectives, the more easily you can achieve them.

Decide on an approach

There is no one-size-fits-all investment strategy. Instead, you need to think about the:

  • Amount of spare cash you have available
  • Length of time you can lock up your money
  • Rate of return you are seeking
  • Need for a regular income, or not
  • Level of risk you are comfortable with

If you intend to retire next year, for instance, the time you have to invest will be much shorter than if you’re planning to start your own business in a few years’ time.

You will also need to consider if you need a regular income – often the case for investors who are no longer in work – or if you can afford to let your investments grow over time. Read more about investing for income or growth here

No matter which direction you take, every investor has to begin their journey with the same questions – where are you today, and where do you want to be tomorrow?.

Risk notice

Any information provided should not be considered personal advice. Past performance is not a guide to future performance. You may not get back the full amount you invest. If you have any doubts about making your own investment decisions, seek financial advice

Compare accounts

  • Choose your own investments – pick your own stocks and shares to meet your investment needs, or choose from our Select List of funds.
  • Ready-made investments – if you want a simpler option, you can choose between our three diversified funds: low, medium or high risk.

Funds Centre

Search and compare over 2,000 funds from leading UK fund companies.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Web Financial Group

The information published on this website is accurate to the best of our knowledge. However, we do not assume any liability whatsoever for the accuracy and completeness of the information and any reliance you place on such information is at your own risk.

The information contained within this website is provided by Web Financial Group, a parent company of Digital Look, unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation.

This is a solution powered by Digital Look Ltd incorporating their prices, data, news, charts, fundamentals and investor tools on this site. Prices and trades are provided by Web Financial Group and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Broadridge Logo

The data provided on the website by Broadridge is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. Broadridge makes no assurances or warranties, expressed or implied, as to the accuracy, timeliness, fitness for purpose or availability of the mechanisms by which we receive, store and/or distribute the data. Any views and opinions made on this website do not represent those of Broadridge.

Factset Logo

Copyright © 2022 FactSet UK Limited. All rights reserved. Terms of use