We all want the ability to make money and to make it quickly. When it comes to making money through investments though, how exactly to best go about it can perhaps seem a little overwhelming. It’s true that you are best to follow a strategy and make a plan, but the overriding principles are the same now as they have always been:
… then sell them on if they no longer represent such good value, or quality. It’s important to cast aside your personal feelings when you do this. This doesn’t mean you should invest in an ethically questionable business or product, but that you should open yourself up to the whole market, not just those areas where you have a personal interest.
Look at the bigger picture and don’t worry about short-term predictions. Money is rarely made overnight. If there’s a dip in your portfolio don’t panic. Remember why you chose the investment in the first place, and if it’s because the longer-term expected rewards are higher, then remind yourself that the short-term performance really doesn’t matter, as you weren’t planning on cashing in just yet anyway.
There are no guarantees when it comes to investments and there’s no such thing as a sure thing. Even if a positive outcome is likely, you are always wide to spread your investments and lower your overall risk. Diversifying your investments across areas that you expect to grow ensures that, if one of these investments doesn’t perform so well, the others should allow you to recover and make up any shortfall.
If making serious money through investments were easy, everyone would be doing it and there would be no need for independent financial advice to help you along the way. That doesn’t mean you won’t be successful, but just don’t expect it to come overnight.
It’s natural when we want something badly to continually go back and review our progress. Just think about if you’re trying to lose weight – there’s a temptation to hop on the scales every time you go into the bathroom, but really, checking every little detail can put you back and cause undue stress. There are more productive ways to spend your time and energy. If you’re not sure what they are, then consider why you want to make more money in the first place.
- What makes you happy
- What would you like to achieve
- Do you want to travel, or explore somewhere new
- Would you like to spend more time with family
- Are you happy with where you live, or would you like to move?
All of these questions can be used to form a base for your lifestyle financial plan, to give you direction and guidance of where you want to go in life – not just financially, but personally too.
To speak to us about making money through investments, or lifestyle financial planning, please get in touch for a no-obligation talk.
This article does not constitute financial advice and should not be construed as such.