Top Investment Tips to use right now to grow your wealth!
Investing is imperative to building wealth and 2020 is the year of opportunities. With a global pandemic form new value, now is a better time than ever to invest in top quality investments. These are my Investment tips.
1 Make an informed decision
It sounds simple; however, I have seen many people becoming “Day traders” overnight! This is the best tip I could give for first-time investors! Make an informed derision. Success in investing is understanding what you are investing in and how you are investing in it. I personally have little to no knowledge of in-depth computer software, so I cannot judge a Software company on its new software due to my lack of expertise. I would need to look and invest in something I know and understand in order to succeed. Do some research on Warren Buffet’s investment Tips and learn from his expertise!
2 Take into account Risk!
Risk is a very controversial topic with many opinions on whether to use it or avoid it. My theory is one needs to use risk wisely in order to grow. Risky investments such as an IPO (Initial Public Offering) should not make up your entire portfolio. That said however, it would make a valuable part of a well-rounded portfolio and should not be ignored.
3 Don’t Ignore Crypto
I will be honest….I was a sceptic at first. Crypto currency is here to stay and will continue to offer great returns! As per my last point, it is a risky investment, but it can be very lucrative. Just ensure you comply with local tax laws, as some countries have very strict laws that can catch one out.
4 Learn to love Bonds!
Bonds can offer attractive yields and are often more predictable and safer than other types of investments. The key with bonds is looking abroad and doing your research. Another type of bond investing is peer-to-peer lending! This is when investors loan money through an intermediary to a person who pays an agreed upon interest rate. Often these are riskier but offer high yields.
These are a few options for you to consider, more will come in the future! And make sure you speak to professionals before you invest! But with these investing tips in mind, go and dominate!
Have a questions? Ask Away!