Investing gives your savings or extra income the chance to grow in value over time. It can help you reach financial goals, such as buying a house or saving for retirement. Investing also can help keep your purchasing power in line with inflation. But jargon, colorful charts and acronyms can make investing seem intimidating or complex.

Before you invest, The Investors Centre your goals and your situation. Your time horizon — how soon you need the money — helps narrow down your investment options. Those with a shorter time horizon should focus on investments with lower risk, such as savings accounts and CDs, or low-risk options like bonds that pay a fixed rate of interest over the long term.

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You also should know how much you’re willing to invest and your comfort level with risk. Then you can choose from a wide range of investment options, including safe choices, such as CDs and money market accounts, and medium-risk options, such as stock index funds. You can also choose high-risk picks, such as individual stocks, which offer the potential for higher returns, but may come with greater volatility.

Finally, consider the tax treatment of each investment. Different types of investments are taxed differently, and the overall return you get may be affected by the taxes you pay. Also, it’s important to research the product you’re considering before you buy. Read the product disclosure statement and consult with an adviser if you have questions.