Lets go over the BEST, common sense investing advice that is not only EASY, but it’ll also stand the test of time REGARDLESS of whatever you want to invest in. Enjoy! Add me on Instagram: GPStephan
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First: Time in the market, almost ALWAYS beats timing the market.
Several studies back this up very well…
All it takes is to miss the best 30 trading days over 15 years…and you’ll experience a NEGATIVE 2.47% return
https://www.putnam.com/literature/pdf/II508-ac37f7ad02b2d8889f7e5361f0e8ac86.pdf
And another study shows that, generally speaking, the more trades you make, and the more you try to time the market, the lower your overall return becomes.
https://finpage.blog/2014/09/18/the-evidence-against-market-timing/
On the other hand…research has also shown that since 1926, a 20-year holding period of the stock market has never ONCE produced a negative result…
https://www.investopedia.com/articles/stocks/08/passive-active-investing.asp
Second: Do NOT invest in something you don’t understand.
Learning about where your money is being invested isn’t difficult work - and most of the time, a quick google or youtube search can answer everything you need to know. Especially when it comes to your hard earned money, it’s worth it to spend an hour of research learning about your investments and whether or not it’s the right option for you.
Third: THERE IS ALWAYS A CERTAIN DEGREE OF RISK.
There is not one single investment that doesn’t carry SOME level of risk, and SOME small chance of losing money…even if it’s a fraction of a percent chance of ever happening. Nothing is EVER certain, and nothing is EVER guaranteed…Be comfortable knowing that there might be a small degree of risk in order to make money…the more you understand this, the better you will be as an investor, and the better you’ll be at managing that risk.
Fourth: Think long term whenever you’re investing.
The reality is that, in the short term, we have much less certainty about what’s going to be happening…prices could go down, markets could act irrationally, and there’s the chance of losing money on paper. But generally, the longer you invest… the lower your chances are of losing money…this because the longer you invest, the more likely you are to weather any down periods and come out ahead in the green.
Fifth, any time it comes to investing, MAKE IT A CONSISTENT HABIT.
When it comes to investing, you need to invest consistently, over time, on auto pilot…it doesn’t mean you need to be actively involved all the time, but you will need to consciously remember to set aside a portion of your income every month that goes into your investment fund.
Sixth, when it comes to investing, understand this concept: A dollar saved is worth $1.50 earned.
In order for you to have $1 right now in your pocket, you likely needed to make about $1.50 from a job, before paying taxes…and before commuting costs…and before other job expenses we haven’t considered. Just for you to have $1 left over, after taxes.
And finally, number seven…don’t get emotional about your investments.
I you find yourself getting emotional about your investments, either you invested more money than you’re comfortable with, or you didn’t do your proper research to understand what you were getting into.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com