Here are 5 golden investment rules you must always remember when it comes to investing.
1. Only Take Calculated Risks
The No.1 rules to investing is to only invest in things you've calculated and found out to be profit oriented.
Avoid any investment that seem vague, unclear and make you feel unsure. Only put your money where you can see.
Avoid quick-money and get-rich-quick scheme. Most of them are fake! Never you get involved.
2. Now Is The Best Time To Invest
Not later in the day, not tomorrow, not next week or next month - but now. Now is the best time to invest.
Stop procrastinating your investment plan for later date. Always remember, it is the things that we have the chance to do but don't do that pain us most.
Don't condition yourself to regret, if you must have a regret, make sure it's a good one.
The type that brings something in for you, but not up to what you could have gain if you had decide earlier.
3. Invest That Little
A foolish decision is to wait till you have a huge sum of money before investing.
It'll be twice as difficult for you to invest part of your money when you have in abundance, if you can't part with part of the little you have.
Compound interest is powerful, it grows sporadically overtime.
No amount is little, start from somewhere now.
4. Don't Invest What You Can't Lose
While investing, never forget the probability that loss might occur.
Any money that is not yours, or you can't afford to lose or spare, kindly desist investing such monies.
It takes a while for any investment to yield.
You are on a long thing, if you feel all it takes is a while before you start getting returns. It might takes months, years or even decades, before you will start earning something substantial from your investments - Never forget that.
5. Never Put Your Egg In One Basket
Being a wise person I expect you to be. I believe don't have to hammer much on reasons why you should not invest all you have in a single source.
Diversify and invest in different channel. In case one channel doesn't work or yields the desired result, others will have the chance of covering up.
Aside investing, even in other life situations, learn to diversify.
Thanks for reading
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