To truly grow wealth, you need to invest; saving alone won't cut it.
When it comes to investing, nothing will pay off more than educating yourself. Do the necessary research and analysis before making any investment decisions. It’s not as scary as it seems. Let's debunk some myths about investing so you can put your money to work for you.
How many millionaires do you know who have become wealthy by investing
in savings accounts? I rest my case". - Robert G. Allen
Goal-setting is a vital step toward reaching financial success, especially when it comes to investing. Setting specific, achievable goals can help you to narrow your focus, create a plan, and stay motivated along the way.
Here are three simple rules to help you when investing in the stock market:
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Compound - the returns from successful investing tends to resemble an upward curve over time rather than a straight line.
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Diversify - this aims to maximize return by investing in various sectors that ought to respond to changes in market conditions differently.
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Don't stress! - investors who use a behavior-modified approach to investing that removed emotion saw returns up to 23% higher over 10 year.
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