Here are some basics that will get the investment novice started
Educate yourself
Educating yourself before investing is vital in becoming a successful long-term investor. Before investing in anything, potential investors must ensure that they have a basic understanding of the financial markets, as well as of the potential instrument or vehicle.
Education is available at the touch of a button through articles, videos, and podcasts, offering investors the opportunity to upskill themselves in their financial decision-making process. Knowledge is key.
Develop clear goals
Too many times investments are made without considering the end goal. If you are booking a holiday, will you book the transport first or the destination? You will obviously choose the destination first—as whether to fly, drive, or go by boat depends on where you are going.
It’s the same principle with investing. If your goal is to beat inflation over 20 years, selecting a high-risk asset that puts your capital at risk would not make sense. Aligning your investments to your goals ensures that you adopt the correct strategy, and makes achieving those goals more realistic.
Stick around for a while
Don’t jump in and out of the market. When placing a long-term investment, ensure that …
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