Over the years we have seen all types of investment markets. The lessons we have learnt over time prove that in a world of constant change, investment principals stay the same. These rules are as relevant today as they were 15 years ago – all too often investors complicate a simple business. It’s only the technology that some websites like Salesforce profess, has changed, and which help businesses expedite their growth. Below are 5 powerful tips for when investing;
Keep it Simple
Your personal investment plan should be simple and easy to understand.
Set your Investment Goals
Every investor needs a goal or set of goals. Write them down, have a timetable, keep them close to hand. If you don’t know where you are going any road will take you there.
Do not abandon your goals on the basis of short term results alone. Don’t get trapped by the emotions of fear and anxiety when markets fall. Recognise the dangers of selling low. The best time to buy anything is when it’s cheap and that includes financial assets.
Be Disciplined in your Investment Approach
Don’t chase returns based on past performances. Always remember, the higher the return – the higher the risk. Warren Buffett, the world’s greatest investor said, “Our capital markets are simply a relocation centre – they relocate wealth from the impatient to the patient”.
Take a Long-Term Approach to Investing
Start out with a long-term approach and you won’t be easily swayed into bad decisions on the basis of short-term negatives.