I’m an investor for quite a while, something about four years, to be more exact. During this time I’ve learnt a lot of things, and would like to share some acknowledgements with you, as well as draw some conclusions for myself.
/Photo by Maliha Mannan on Unsplash/
Of course, everything said an written is ONLY my opinion, and NOT a financial or any other legal advice.
So, let’s fast forward to the first part of things to do when you’re an investor:
#1 Invest only that money that you’re ready to lose.
This is my golden rule number ONE which I use from the day one of my investment road. I’ve invested in various projects and things, and quite usually from those who did know something about my investments I’ve heard “Why are you doing that? You’re risking your money! What if you’ll lose it?”. The actual answer is – nothing catastrophical will happen. I invest that money that I’m ready to lose. It doesn’t mean I’m indifferent to the fact weather I lose that money of make it work for me, but still, somewhere inside me – I’m ready to start over if the worst happens. And this is psychological aspect, don’t know whether it can be trained or not, but I’ve managed to have positive impact on my mindset. And that impact was made consciously and by me. :)
#2 Save at least 10% of your money.
Actually, the story about 10% is toughed by all the investing books. Me personally, I’ve managed somehow all the time to save at least a bit more than that. Truth, a while was needed for me (some 3-4 years, I’m a saver much earlier than I’m an investor) to start to invest that money I was saving, for somehow I just hadn’t a clue that you can invest that money…
Interesting thing here is that people usually tend to think that they earn not enough money for to save anything. But from the experience of a lot people as well as from my own – it’s more than possible to save 10%. Even if you earn 100 dollars per month, your 10% will be 10 dollars. And the research and experiments show that by putting aside those 10% you won’t feel the difference in your living standard. It’ll feel just the same as it was before you started saving those 10%. But now, with that beneficial habit, you’ll finally have some money to invest. And let’s not forget that there’s a huge variety of investments. For example, you can also invest in your health or your knowledge.
/Pixabay/
#3 Invest even if you have little money.
Once in my life I’ve been advised that with my small salary as an office administrator in the bank at that time I’m not the one to be thinking about investing anything. I’m a happy person that quite fast I’ve rethought that advice which I took at first and started invested the money I had.
The important thing here is that you should know where to invest and what are possibilities for investor with that little money. So, while saving those 10% you can also invest your time for starters into learning and collecting information, so that use your money wisely.
#4 Invest not only your money, but also your time
When investing in projects – be those startups, ICO’s, some projects involving credits or any others - invest not only your money, but also your time to learn about the project and the team. Everything in this aspect is made by humans, so this is the first aspect you’re actually investing into. Because at the end of the day – most of the success of the project will actually depend on the team behind it.
This is the end of the first part. 📝
🎵 Stay tuned for the second part of Investing Principles next Saturday. :)
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Nice post! I'm investing too, and these rules are the real starting point. Thank you!
Thanks :)
thnx very helpful,,
I much impressed by rule 1 and 4
Thank you!
Well put @aleksandraz. Saving is important to reach higher potential gains!
Definitely!
Some work so hard for their first or second opportunity owning a business. Many things go wrong and sometimes you don't know when to give it up. It's never gonna be easy, whether you stay or go. I guess what makes it worth it is the experience. Can't always focus on the monetary reward- I don't think money should be the root of inspiration for a business, but rather just a type of conditioning. Nothing beats doing what you love AND generates income.
Development is the best motivation. Bad experience is also expience. This mistakes will surely help you in your life.
Great tips - how are you supposed to get ahead in life if you are not doing these things? If you don't like where you are in life or finances, but you don't put aside money or time to improve your future then you are just a complainer.
Stop complaining and start taking active steps like the ones above to have a better future.
Well said! You are absolutely right, my friend!
Very good advises!! I actually really love how you encourage people with a small income also to invest. Maybe a good idea for the next post would be advises where is smart to invest those who don't have high income?
Not sure advise is a good idea as then I'll the one to blame if something goes wrong, but I surely will share my ideas of where one could invest with small amount of money, be sure those posts are coming. :*
Thanks for reading!
Интересная тема. О том, что с любой зарплаты можно откладывать деньги не менее 10% убедилась на собственном опыте. Никогда не понимала людей, которые брали в нашей стране кредиты под сумасшедшие проценты. Говорила, почему сначала не накопить, а потом купить вещь, без которой можно жить. Важным может быть только приобретение жилья в кредит, все остальное можно подождать. Инвестирование всегда риск, но очень верно Вы подметили, надо понимать, что за проект, кто за ним стоит, и какой можно ждать результат.
Буду ждать продолжения.)
Thank you very much! Totally argee with you!!!
advice and motivation are very good friends, I also often invest but at least only the gold that I have. because I still do not know how to invest in digital money like bitcoin. now I just know how to invest with digital currency and the future if I get the results of steam meal will I try to make an investment. thank you friends of advice and knowledge. warm regards from your best friend.
You're welcome. Glad that it was useful for you. Good luck in investing :)
yes friends, hopefully we all can achieve the dream of becoming a millionaire ya. Let's get the spirit to fight with my friends.
a nice post on the management of your time & money, that described that even that penny counts in your account. That penny can tip the balance over.
Thank you! Keep it up (y).
Thanks! I will ;)
good writing @ aleksandraz. this can be a guide for me in investing. thank you for sharing with me.
You're welcome!
Thanks it is very helpful
You're welcome)
thank