Some look upon investing as a science, some think it is an art, but investing is a craft. That is because it can be improved with practise. The finer nuances of investing may be known to many, but they are followed only by some. Investing will test you, your emotions, your strategies, your best laid plans and ideas. It is only how you hone this craft and improve it every day that will set you apart.
Becoming an investor isn’t difficult, but understanding a few basic points at the beginning can save you trouble later on.
1. Understand the risks of investing – investing is rewarding but also risky. When you’re getting started, the key question to ask yourself, along with your spouse, is: How much are you willing to lose? Make sure your own risk profile is a fit with chosen investment project’ s risks.
2. Ask experienced investors for advice – this is one of the most critical steps. There is so much to learn about investing culture is centered on asking questions. So it makes sense to start your journey by asking questions about being an investor. Visit professional investor blogs and other sites with links to videos, books, articles, etc. Consider attending workshops and events, where you can meet investors and project owners to learn and get they experience.
3.Start investing now. Many people put off investing because they think you need a lot of money—thousands of euros!— to start investing. This just isn’t true. You can start investing for as little as 100 euro. The key to building wealth is developing good habits—like regularly putting money away every month. If you make investing a habit now, you’ll be in a much stronger financial position down the road.
4. As an investor, do not be in a hurry to see your investments grow. Investing is a process. It is not a journey towards building an X amount of retirement corpus, but a journey to achieve financial independence.
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