There’s no one way to invest. There’s no exact formula for success. There is, however, a reason to get in there and try. Develop a good investment mindset — and don’t let perfect be the enemy of good. Here are some investment tips and tricks to keep in mind:
Start it up.
Compound interest is magical, but it takes a long time to get the impact you want. Make investing a priority and take steps to get started. Do it sooner rather than later.
Make payroll deductions and automatic transfers part of your investment strategy. If you don’t have to think about investments and you never see the money, you’re more likely to follow through on your investment strategy each month.
See to the fees.
When you invest, some of your funds go to pay fees — but the less you pay out, the more you keep in the market. Stay informed, compare costs, and choose investments wisely.
Stay the course.
Don’t let short-term thinking trip up long-term progress. Trying to time profitable entrances and exits to the market just doesn’t make sense. Get in and stay in.
Go easy, slugger.
Investing isn’t gambling. Just because you think an investment will perform doesn’t mean it will. Focus on staying in the game rather than trying to hit a home run.
Think for yourself.
Don’t get caught up in the hype of investment headlines, buzz, and chatter. Simply stick to your strategy and keep your eyes on long-term wins.
Don’t set it and forget it.
Ignore the hype and media chatter — but don’t ignore your portfolio. Maintain balance, check performance, and adjust risk levels to match your lifestage.
There is no guarantee that any particular investment will gain value at any particular time. And paying for investment help doesn’t guarantee good results. If someone says different, go elsewhere.
While you’ll certainly want to analyze, research, and consider your investment choices, don’t over-analyze, over-research, or over-consider. Don’t waste too much time finding the “best” path — it’s better to pick a path and go.