Don’t make investing harder…
In this story, I will show you what you need to do to become a better investor.
Doing these things and focusing on them allows me to become a better investor. So I thought it would be beneficial to you as well.
1. The first step is to start learning.
Warren Buffett spends around 80% of his working time reading!
"Learning can never stop"
Being an investor requires you to be ahead of headlines.
2. Don’t depend on others’ recommendations.
You cannot rely on others’ opinions, instead, you need to do your own research.
Doing research will keep you ahead of the game.
Always remember this: just because someone is an expert doesn’t mean they’re right all the time.
3. Never fall for Noice.
You will find lots of success stories, I bought this, that and made a killing last year, and here are my returns,
Very few share their mistakes, I am sure you have come across this.
You can only stand on your feet, once you understand this game.
4. Cannot fall into Your Emotions
Always remember you are investing not to get huge returns within a few months,
Never ever expect that, and short-term fluctuations should not impact your decision-making
To be a healthy investor, you should learn how to manage your emotions.
5. Long Term Focus is the way.
You should have long-term goals.
Once you have long-term goals, you can easily focus on today’s task and you will not be emotionally attached to what happens today.
Never make permanent decisions on temporary feelings!
6. Plan your Investment from Day 1
Never start any investment without planning.
A good investment plan will keep you focused on your long-term goals.
It must include your investment goals,
- How do you plan to achieve them, and
- How much risk you’re willing to take…
7. Investing for Value
“Price is what you pay, value is what you get.” — Warren Buffett
This is important to understand before the investment, how much the investment is worth and how it will grow in value over time.
8. Understand the investment
- You should know why you are investing in a particular equity or asset.
- You should understand how it can grow its value
- You should know the risk.
9. Stay Disciplined
This is hard....
Stay focused and stay disciplined is hard because most of us are attached to money.
If you are investing, you should not be attached to the dollar value of it.
You should not be attached to the eye-catching returns of other investments.
10. Understand and Love Compound Investing
“Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pay it.”
— Albert Einstein
Once you understand how it works, you will love the effect and impact it can bring.
This is the end of the story… I hope you guys have learned some valuable lessons.
Thanks for reading. If you enjoyed this article, please like and share for better reach.!!