I come from a family of non-financial people. None of my childhood friends ventured into the financial world either. When communicating with any of these good people, I have always had to try and jargon bust our dreadfully complicated lingo into something that is easily understandable.

I have sought to do this throughout my career but am honest enough to say that it is always a "work in progress". I continue to ask for feedback from family, friends and clients 28 years down the line.

Investment is one of those subjects shrouded in myths that seem to suggest you need a Master's degree to even think about getting involved. This need not be the case and I have listed below some general hints and tips for you to consider (that hold good in any circumstances) if you are contemplating making an investment;

1. Invest only for need, not for greed. Only take the level of risk that you need to take, which is likely to put you in a position to achieve the return you are seeking.
2. Don't invest more than you can afford to lose.
3. Understand very clearly that whilst it is unlikely you will lose all of your money (in a well regulated investment with a good long term performance record) it is actually possible to lose money.
4. Invest for the medium to long term (5-10 years) and not for short speculative periods (less than 5 years) hoping to make a quick buck - You will invariably be disappointed. Investments in stocks and shares tend to produce better returns the longer your money stays invested although there are never any guarantees of this.
5. Do not put all of your eggs in one basket. Invest your money in different places to spread your risk. An Independent Financial Adviser (IFA) should be able to help you achieve this as he/she is not tied to recommending any one investment company.
6. Do not invest money that you have set aside as your emergency fund or money that is needed to cover short term expenditure (within 5 years) of a fixed amount. For example, money for a tax bill in 2016 or a final stage payment on a new build property in 2018. If financial markets have declined at a time when the money is needed, you may find yourself unable to make such payments.
7. Do not speculate with currencies unless you understand them. Invest in the currency/currencies that you incur your expenses in. For example, if you live in the UK and only have expenses in Sterling, what is the point in holding Indian Rupees? This would create an unnecessary exchange rate risk for you.
8. Always look to take advantage of any Government investor protection schemes that may exist.
9. Seek to understand all of the costs involved with any investment you are considering.
10. Check that any investments being recommended to you are with a regulated money manager who is regulated in a country with a robust regulatory framework in place.
11. Understand what recourse you have in the event of a complaint.

Obtaining reliable independent financial advice is the key to navigating these issues successfully. I have 30 years' experience working in the UK, Channel Islands, Isle of Man and Gibraltar, financial services industry and would be delighted to assist you.

By Darren Mills, Abacus Wealth Management