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Investment Tips For The Average Person | Financial Planning Tips

Investment Tips For The Average Person

Everyone is looking for a way to make the most of their investment dollar. If you are looking for investment tips that work then you are in the right place. The focus on investing should not be on hitting a home run every time. The focus should be on stable long term results. To use an analogy of baseball if you went to the plate and only tried to hit home runs you would strike out and eventually the coach will bench you. If you studied the pitcher before going at bat and swinging at pitches that you could reach then you got a hit and on base. Every so often you would hit a home run as well.

Investing is much like that in the approach, the one tip that will make you successful is to invest in things you understand. If you are putting your money into something you don’t understand then you are taking on additional risk. Anyone who proclaims that an investment is risk free is not truthful. All things involve risk but you can mitigate it by understanding what can go wrong and what can go right.

When you do receive investment tips consider the source closely. Is this something you heard at the local coffee shop or is it from a well known and respected person? If the person giving the tip is someone whom you know personally and they are successful then consider the merits of it. The investment tips you receive from the “coffee shop crowd” is usually reactive and not proactive information so the opportunity will be diminished.

You should decide before making any investment what is your risk appetite. Do you like to take on potentially riskier investments for a higher return or would you lose sleep at night worrying. Some friend might be into pure stocks, while others might understand the E currency or ETF market better and recommend investments like a natural gas ETF, water ETF or others.  These are personal gut check questions that need to be asked and answered. An investment is supposed to increase your wealth and make your life more comfortable. If it causes you anxiety then is it really worth it?

When you are looking for investment tips you can find information online and through respected colleagues and trusted friends. Always remember that the information is just that information. You must always perform your own due diligence before cutting a check. If the person selling the investment or promoting it is trying to “rush” you to take advantage of this time sensitive deal walk away. Always invest for long term and not the one time pay off.

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