Regular Savings Plans

To be a successful investor in the sharemarket, you don’t necessarily need a large amount of money.

What does help though is a commitment to a regular savings plan – a convenient and flexible approach to investing. An RSP is a monthly subscription plan that enables you to invest a fixed amount of money into a particular fund on a regular basis. It uses the concept of pound/euro cost averaging, an effective strategy that avoids trying to time markets. By investing regularly, more units are bought when prices are low and less units when prices are high. As a result, in rising or fluctuating markets, the average cost for all the units can be lower than the average price during the same period. One benefit of this type of plan is to reduce the risk of investing a large amount of money in a single investment at the wrong time. These types of plan are good for Cypriot residents who do not have a pension plan in place and are looking to save for their retirement. Alternatively these types of plans are good for saving for a defined purpose a number of years away, such as savings for a child’s or grandchild’s school / university fees.

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