Six Investment Tips That Every Beginner Should Know
Six Investment Tips
That Every Beginner
Should Know
An intelligent investment is
a precursor of being
successful. However, it is a
complex process that
needs careful planning.
There are a number of
things that must be taken
into account.
1. Don’t Listen to Financial Media
Waiting for news to guide you will
put you in a long queue of
investors who heard it before you.
Don’t let news convince you into
investing even if it sounds lucrative.
2. An Unemotional Discipline Pays Off
Be a realist. Analyze and
evaluate all the facts
before making a decision.
Don’t make investment
decisions driven by
emotions.
3. Don’t Follow The Trends,
Anticipate Them
If you want to invest money never follow the herd.
Stay ahead of the crowd, don’t be a part of it.
4. Spend Less Than You Earn
Try to widen the gap
between your earnings and
expenditure.
The willingness to act on this
is the only thing between
your wealth and you.
5. Know Where The Money Goes
Keep a track of your spending
to be true to your goals and
budget.
Always check if the plan
matches your spending reality.
6. Identify Your Risk Tolerance level
Know all the risks and check if you can take a loss
before diving into an investment. Maintain
tolerance and don’t invest emotionally.
Intelligent Investment is not as easy
as it sounds. However the benefits
are many and life long. The road is
hard but the rewards are plentiful.
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References:
http://www.investorguide.com/article/15253/investment-tips-beginners-smart-way-invest-money/