Five Investment Principles You Should Know Before It’s Too Late
Starting out as a new investor is a lot like going to college. It’s a whole new and can be a very emotional experience for most people. It’s the first time being away from home without parental supervision. Clicking the buy button for the first time on a stock or a bond can be a very emotional and exhilarating experience. Your parents probably gave you a lecture about your college experience for some guidelines. There are also some guidelines for investing that should be followed to help you find your way.
Find someone trustworthy. This professional should have an extensive knowledge about monetary investments. You can also attend seminars done by company firms or you can pay someone to do it for you. A basic understanding of financial management is a major plus when venturing into investment opportunities.
Pursuing a stable financial future is a life-long endeavor. Learning the hard things as young as possible gives you the experiences and knowledge to commit to whatever financial moves you will make in the future.
An emergency fund should be enough for you to live on for 3 months and even this money should be invested into a safe investment vehicle like a Treasury Bill Fund that is very liquid in case you need it in a pinch. Combining automation + retirement savings is a great way to manage the emotions of investing your hard earned money because with automation you can “set it and forget it”.
Read about automation and investing in your future along and the other great tips.
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About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.