It is never too early or late to start an investment portfolio. If you already have a portfolio it doesn’t hurt to gain some extra insight, whether you choose to acknowledge the advice or not… at least arm yourself with it!
Here are five investment tips to help you stay on top of your expenditures.
- Follow investors on social media
There is a huge accumulation of knowledge being distributed via social media platforms. Assess the people you follow according to their track record, discretion is imperative.
- Don’t just think about tax savings
Don’t let your investment decisions be governed solely by tax savings. Consider it a factor, but think of the other aspects too.
- Keep it simple
Straight forward investments are more likely to provide you with sustainable returns, avoid complicated assets.
- Don’t speculate
Speculating on the social psychology of the market is risky business. Discerning value over passing trends is more likely to succeed.
- Strategy and discipline
Invest with your head, not your heart. Don’t let your feelings undermine the execution of your strategy, discipline yourself to stick to your plan.
Your investment decisions should not be made without very careful consideration. As Ben Franklin said “Beware of expenses. A small leak will sink a great ship.” Don’t forget that your investments are simply a vehicle to preserve and provide for that which is really important.
Looking for some more advice? Let’s get in touch! (or follow me on Facebook)
Source: Fin24