Making an informed decision about investments and savings can take be difficult and nerve-wrecking at equal measures, but don’t fear. Things have just gotten a lot easier. This weekend, I was introduced to Nutmeg, an intelligent, fully-managed online portfolio that allows you to really understand how investments work – shares, risks, the whole lot.
The website is really user-friendly. You set a time frame for your investment, how much you’d invest as a lump sum or as a monthly payment and then use a slider to rate how much risk you are prepared to take – “1” standing for “Avoiding loss is a priority” and “10” meaning “I’ll risk large losses for higher gains”.
The great thing is that depending on the risk factor, your contributions and your timeframe, you’ll receive on overview of how your investment might develop over the coming years. It shows you your target return, when you will hit it and how your risk factor might affect your return. If you aren’t happy with your prognosis, you simply use the sliders until you are happy with the portfolio suggested to you.
Other than with other providers, you also only need to invest a relatively small lump sum of £1000 and depending on your lump sum, no monthly payments or payments of as little as £50 might be required to reach your long-term investment goal. What I really like though is that you have access to your money whenever you might need it. Let’s face it, life often throws the most unpredictable challenges at us and for some events you just can’t prepare. Knowing that you can get to your money, gives you extra piece of mind and might encourage those who have been afraid of investing long-term to take a step towards their ultimate saving and investment goals.
Check out the video below, if you want to find out how is make your investment work for you: