If you’re just starting out in the investing world (or if you could use a refresher), it’s important to take some time to know what you’re getting into and make a plan.
Need a good place to start? Here are 5 rules for investing:
- Be patient. Don’t buy all at once. Have a plan and slowly build up your investment portfolio. Work to get the best price over time in order to maximize your profits.
- Do your research. Always know what you’re getting into before you buy. Research all aspects of the company before investing and make sure you know what to expect.
- Don’t panic. As best you can, leave your emotions out of it and work on letting the facts guide you instead. Further, never look back on the “should haves” of investing — learn and move on.
- Be flexible. Business is always changing and growing. Always expect the unexpected and be ready to change your plan if needed.
- Think long-term. Warren Buffett once said, “if you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”
If you need a little extra help when it comes to investing, call us. We’re here to help.