Investing can feel intimidating when you’re first starting. Once you’ve finally managed to save something, you may not even know what your goals actually are. What do you want to spend that money on anyway?

The life you lead has a lot to do with the kind of money you have to spend on it. Even when you’re young, think about your goals. Do you want to save money to:

• Buy a house
• Pay for your dream wedding
• Go on a year-long tour of the world
• Set up your own business
• Or get a start on retirement?

You know how hard it is to save money and that’s why you need what money you have managed to save to start working for you. If you want to buy a house, take your dream vacation, and retire, you need to start investing.

Growth and Insurance

There are two goals you should have in mind when you start investing: growing your savings and protecting your principal (the original sum you invest). You’re going to want to talk to a financial advisor who can help you match your investments to your goals. No matter how much (or little) money you have, a financial advisor can help you figure out how to save and invest.

#1 Get Started Growing Your Money

The first step is growing your money. The highest returns generally come from shares – the stock market. While it can feel intimidating deciding what companies to invest in, there are financial products out there like mutual funds that make it easy. You pay a little bit in fees and an expert chooses what to invest your (and many other people’s) money in.

#2 Protect Your Money with Gold

You’ve invested in a mutual fund and you’ve been told you can get 5, 7, even 10 percent annual returns. Now your money is working for you – until the next market correction. Even an index mutual fund is going to lose money in a correction, and they are inevitable. Market corrections happen roughly every 16 to 17 months, but no one can really predict them. Sometimes they are minor corrections, when the market as a whole might lose up to 10%, but sometimes they are major, and can lose up to a third or half their value.

So you need something that does well when the markets aren’t. It might seem like an unconventional move, but gold bullion correlates negatively to the stock market. When there’s a correction going on, gold prices tend to rise. That will protect your overall savings.

#3 Find the Right Time to Buy Gold

Timing matters when it comes to gold. Pay attention to prices; by investing in gold at the right time, you don’t just protect your portfolio as a whole, you can also enjoy some significant gains.

To figure out the right timing, find out how the most recent prices compare to the last few years. If they are significantly higher, you could be chasing prices gold won’t see again for years. If they are down, you could be getting a bargain that will pay off down the road. If gold prices have been stable, you’re likely getting a good deal that will help achieve your investment goals.

Even a small amount of money can grow. The right investments can help you live the life you want.

To read more on topics like this, check out the lifestyle category.