By trying to time the market you can miss possible opportunities. The unpredictability of the markets means that picking the perfect time to invest can be very difficult, if not impossible. “A journey of a thousand miles starts with a single step.” Lao Tzu

The same principle could be applied to investing by getting started. And to avoid having all your eggs in one basket, you could invest in funds that spread your money between different types of assets, including equities and bonds.

You need to decide whether this is the right time to invest for you. There are risks that come with investing – markets can go down as well as up and you may get back less than you invested.

You should set aside enough money in accessible savings to cover any emergencies - an amount of around 4 times your essential monthly expenditure is typically about right.

Investing shouldn’t just be seen as a short cut to the potential for higher returns. You should make all your decisions based on your own financial planning needs. If you aren't prepared to see the value of your investment fall along the way, or you’re fearful of the market, then investing may not be right for you.

If you do decide to invest, focus on the longer term, this could give you the best chance of making investment work for you. Remember to have some money set aside to cover costs in an emergency.