Feb 1 2017
Have you ever noticed that your money seems to disappear? You can’t keep track of it – it goes and you’re caught short between paychecks.
If this is you, you need to take your money seriously. Track your spend, open a savings account, try to leave a small amount of money at the end of each month and deposit this in your savings account.
Have you done it? Congratulations, you’ve just made a budget and an investment! This is key.
But do you want to take it further? Good! Investment is something that can secure our financial future and ensure we are never in a difficult place.
But there are so many questions! Do we simply save in a standard savings account? Do we find an investment fund to invest in? Do we take an educated gamble on the stock market or so we put our money into a workplace pension?
Ideally, the answer to all of the above questions is simply – yes. This is called diversifying. Each investment represents an installation of a chapter of your investment portfolio. The bigger your portfolio and the wider the finances are spread, the better. This is good in case a market does crash as you’ll have plenty of other investments protecting your loss. The chance to invest, though, is at a premium of sorts and you’d be insane not to thoroughly consider each and every investment opportunity before putting the money down. Investing can be so confusing, and it can be dangerous to our finances – that’s why you need to research and take on board the experience of people like Jason Colodne if you want to invest! Listen to others before making what could be a silly gamble
One thing, though – you need to understand that you cannot outsmart the markets you are investing in, despite what some might be far too eager to tell you. There are probably three people in existence that can outsmart a market, and the big chance is that you aren’t one of them. If you try to outsmart the market, others will benefit from you at your cost. Always make sensible decisions with your money and invest wisely at all times.
If you want to play it really safe, invest in property. It could be the best decision you could ever make in terms of money. Income from rental can pay off a mortgage and put cash straight into your pocket. It’s not a gamble at all unlike the stocks. You should never rest on your laurels, though; the property is a physical thing that exists for you to improve. If a property falls apart on your watch, the dream is over. Don’t be negligent with your property.
Of course, remember to diversify and no investment decision can really be considered a bad one unless you chuck your money away on unfounded rumors regarding stocks. Play it safe and tight to your chest and let your money work for you