7 Tips For First-Time Investors
1. Start NowYou are never too young or too old to begin investing, so what are you waiting for? By waiting any longer you are losing out on potential profit. Even putting away $25 a month into an investment is better than nothing. The earlier you start the more likely you are to end up with more money due to compounding rates of return, so start investing today!
2. Seek Advice from Someone with ExperienceAs with anything it is important to seek advice before investing from the first time. Find out your options – speak with seasoned investors or an investment advisor to determine which avenue of investing is best for you.
3. Keep it SimpleKeeping in simple is one way to make investing profitable in the long run.
4. Be Prepared for the Long-TermBefore investing any amount of money make sure you are able to part with that money for an extended period of time. The way to make the most money from investing is to stick it out for the long-term. Stocks tend to be volatile in the short-term, so be patient and wait out any changes and you will be rewarded in the long term.
5. Tune Out the NoiseThere are tons of media outlets that report the daily happenings on the stock market. While some of this information is informative, a lot of it is not. By tuning out the unnecessary noise it will give you more time to focus on what's important – your investing success.
6. Buy Low, Sell HighOne of the most basic tips for all investors is to buy low and sell high. Don't let greed or fear take over your decisions, follow this basic tip to make the most out of your investment portfolio.
7. Expect SurprisesNothing is the stock market is ever a given, so you must not be too surprised by unexpected surprises. While the first big positive surprise from the company is unlikely to be the last, the same goes for negative surprises.
By InvestorGuide Staff
Posted in ...Investing