Hi, fellow financial gurus 🙌
There is so many info about investing out there and still, this field is full of myths and legends. I have to admit some of them were preventing me from starting my investment journey. And I feel bad about it cause as we know time is money.
So for beginners and those who want to start investing it's important to break some misconceptions right away.
1. Only millionaires can invest. And don't forget billionaires, they're in too 🤑
The truth is you can start with any amount of money, literally. There is definitely a direct dependency — your profit is a percentage of the invested amount. The more you invest, the bigger is the potential earning. Each investment should have a predetermined goal and a set period of time. And it is better to determine them in advance in order to avoid a situation when you expect a million dollar returns after investing $500 just one month ago.
2. You should be a professional to invest 🎓
There a lot of professional investors that's true. Though it doesn't mean you have to be one from the very start. Just look out for major economic news, analytic materials and even advice from professionals. It's enough for the start for sure.
3. Investing is always a risk, a huge one 😰
Sure, a risk is always involved when it comes to investing. The thing is all the financial operations in your life involve a certain degree of risk. Keeping money in the bank, opening your own business or even a new employment — all of the above can potentially damage your financial wellbeing. Investing can no doubt lead to different results. However, if you treat your investments correctly, this risk is significantly reduced.
When the myths are busted it's time to invest! Here are some principles to follow:
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Invest only spare money that you can afford to lose. It shouldn't affect spendings like rent, everyday products, family needs.
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When investing your spare money, allocate 10% to high-risk assets, 30% to mid-risk, and 60% to low-risk ones. Spend it on one asset can be not the best idea.
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It's better to invest in fields you are familiar with, so take it into the count or just learn as much as possible about it. It'll help you find the perfect time to sell or buy stocks.
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If something in investing still makes you anxious, feel free to contact professionals. There are enough stocks for everyone.
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Keep your eyes open. Don't miss a thing that can affect your investments.
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Be calm. In this matter, emotions are not the way to go. Logic, discretion and cold-minded approach to everything are your best friends as long as you want to invest successfully.
Investing is exciting but sometimes it's okay to hold on it a little bit. Maybe it's better to invest in yourself at the moment. You see one of the main things in investing, in general, is that it's about planning and looking forward. Be sure to make the right priorities. My team and I are in love with finances and investing, so we've collected popular investment tools for beginners — feel free to check it out. And good luck with all your undertakings.
What other myths have you heard about investing? And please share your stories how you've started investing. It's always useful 🌟
Submitted December 13, 2018 at 12:18PM by savadit https://ift.tt/2QPMUYC
