Investments are an enticing option if you're looking to grow your wealth, but they can also be complex and change on a regular basis. Long term or short term managed funds, shares or property, there are a range of options that make up a diversified investment portfolio. While some require more attention than others, you should always make sure you're keeping track of your investments and understand what is happening with them – even if you're using managed funds and have an experienced financial planner making decisions for you. Follow these handy tips to get the most out of your investments:

1) Keep records

You'll be a lot more confident in each of your investments if you keep records of their performance, so you can see how they've done over a long time period. This will help stop you from getting too caught up in the peaks and troughs that are an inevitable part of investing. Each share should come with regular transaction statements that show their value, as well as the fees and taxes you've paid on it and you receive regular statements with your managed funds. File all of these away, and consider making a spreadsheet that records all of this information. This will help you to know which investments are performing well, and also come in handy if any auditing is required. If you need access to live information, you'll be able to find out the exact value of many of your shares or the current performance of your managed funds online.

2) Review everything at least once a year

Take a look at all of your investments at least once a year (although every six or even three months would be ideal). Ensure they remain appropriate for your own risk appetite (while still taking into account the normal ups and downs of investing) and that your portfolio is still helping you to work toward your goals.

If your circumstances have changed, and you've decided to grow your wealth for slightly different reasons, take this into account. Perhaps you'd like a more aggressive investment strategy so you have more money in retirement, or you've realised you're going to need your money sooner than expected and want something shorter term. It's important to not make any knee-jerk reactions to short term trends. Don't base your investment purchases on what's happened in the past, but instead what you think might happen with those investments in the future.

3) Watch for warning signs

There are often warning signs that your investments aren't quite up to standard. The Australian Securities and Investments Commission (ASIC) require those issuing investment products to publish statements that clarify information or correct it. These sorts of statements could be indicative that the investment is riskier than you first thought. If you don't get the results you expect or have been told about by your investments manager, it could also be a sign that it's time to change your tactics. Proper record keeping and being as involved with your investments as possible are the best ways to spot these warning signs.

Making money from investing can be a complex process, but with TPT Wealth Managed Investment options we make things easy by doing most of the heavy lifting for you.