If you actually want to start investing, what are the basic things you need to know?
How will I invest, how often should I invest and where to invest and so on.
These questions are very fundamental to basic investment making decision.
Below are some simple and fundamental rules that can guide you when it comes to making investment decisions.
As the going goes thus” procrastination is a thief of time” and we all know that a journey of a lifetime starts with a step.
You don’t have to procrastinate, for you to enjoy financial freedom soon, start investing today.
There is no reason to delay because the earlier you start, the bigger your returns.
You don’t have to listen to those who tells you that it’s not a good time to invest now, there are a million and one place and ways to invest. If investing in government bond is not fair enough now, you can invest in real estate or put your money in fixed deposit to get reasonable interest for some time.
Invest as often as possible
You must try to invest as often as possible yes this requires financial discipline, this might not be easy at first, but very soon with consistency it turns to a habit. Investing should be an habit not something you do when you find yourself with extra cash.
Your one time big investment is good. But it’s best to follow that will affordable amounts, regularly, over a period of time.
In the journey of financial freedom, you need financial intelligence that is why it is very important to have some idea of where to put your money. Yes you want to invest as often as possible but you need to be very careful not to invest where you will lose your money.You need to invest on things that you really understand, know how such investment works, and the associated risks involved in the investment.
It is a good to for you to have a realistic objective in mind while investing. What are you going to spend this money invested on, in the future? Because your financial goal will dictate where you will invest.
Finally there is always a good time to invest, because regardless of the status of the market or the direction of the economy–there will always be an investment that’s performing well.
Is the local stock market going down? Then maybe check out bonds or fixed-income instruments, which sometimes perform well when the equity market is down. Or maybe investing in other global markets is a better option for you.
Of course, the challenge here is how to know and find those investments. And this is where financial literacy comes in.
When everything seems to be going down, then investing on yourself to increase your financial knowledge is the best investment you can make you need personal financial development.