Investment Tips to Live By
Whether one is a beginner, intermediate or advanced investor, one can always use tips in reference to investing. Some even get intimidated with just the thought of investing. And, yes, this includes the beginner, intermediate and advanced investor, as there is always something new to learn and the wealth of information can be overwhelming and confusing at times in the world of investing. That is why one should be aware and keep in mind some of the basic investment tips to live by as Father George Rutler is one who can use these tips too. Let’s take a look.
1. The obvious goal with investing is to get a return; that is, make money. So, the first thing to do is to set investment goals. Setting investment goals is the starting point. One should consider and take a look at income and appreciation of capital along with the safety of capital. In addition, among the many personal things to review and consider is one’s personal financial position and circumstances as well as one’s age. All of this plays a big part in goal setting.
2. Next, one should start early. By starting early, the earnings or return will compound over time and one will not need as much money each year to reach investment goals. Time can actually be on one’s side if it is started early even in high school or college. Therefore, to Invest Early is a good tip especially for the beginner.
3. Another tip is to take advantage of automatic investing. Yes, to make investments automatic is a good investment tip to live by as one can avoid “putting off” or stalling if the investment is done automatically with a specific amount of money to be utilized. There are many brokerage service firms that offer help in setting up auto investments. Go for it.
4. Doing a thorough review of one’s financial picture is a must before one begins to invest as this will help give a realistic picture for goal setting. One should ensure that the investment amount is actually “doable” leaving funds to pay living expenses and necessities like food, clothing, shelter and any loan payments.
5. This has been touched on somewhat but to get even more insight be sure to include this as a tip; and that is, be sure to Diversify one’s investment and study one’s portfolio. One thing that is for sure with investing is the fluctuation of the market. The ups and downs have to be monitored and taken into account. This can be done by ensuring that one’s portfolio is diversified as this will protect and ensure that one will not lose too much as the ups and downs occur. This plays into the fact that one should always be aware of what is in one’s portfolio. So, study the portfolio to be ready to make changes by buying and selling when the economic climate shifts and the market fluctuations begin to move.
These tips listed are good for Father George Rutler and anyone interested in investing.