
5 Tips on How to Become a Successful Investor

With the stock market experiencing massive drops due to the coronavirus crisis, the uncertain down market has investors clamoring to sell at low prices. A lot of people are also considering learning more about investing.
To give you a couple of ideas about where to invest first, here are five investing tips that would help you learn how to become a successful investor.

Jamie Street/Unsplash | The coronavirus crisis has negatively affected the stock market.
Establish Your Goals
Your approach to investing may vary depending on your priorities and goals. Maybe you’re looking for a way to grow your extra funds, funds for a comfortable retirement, or college funds for your kids.
Your risk tolerance also helps define your goals. The higher the risk of loss from your investment, the greater the returns are. But how much are you willing to tolerate these risks? Consider a variety of investment types and determine which work for you.
Look Into Investments with Guaranteed Returns
No investment has guaranteed returns, but these strategies could help you improve your financial status in the future.
The first strategy is to pay down your credit cards. Next is to invest in a retirement plan. Grow your money tax-free by investing in the tax-deferred retirement plans. Companies match your contributions to your 401k, so it won’t hurt to maximize it.

Zsun Fu/Unsplash | Invest in assets like retirement plans or pay off your credit card.
Try to Keep Costs Low
Check the charges for the administration fee. Some charge a flat fee, while others depend on the percentage of growth. If you only have less than $1,000 to invest, it may be better to use the percentage.
Use a Robo-Advisor
Investment services are now available on various online platforms, and these are called “Robo-advisors“. These offer user-friendly interfaces, low-minimum balances, and streamlined enrollment processes to help investors, especially the beginners. Find out if using robo-advisors works for you.

Adam Nowakowski/Unsplash | Try using an online platform when investing
Consider Investment Alternatives to Stocks and Bonds
Try to spread your eggs in multiple baskets and diversify your portfolio. Aside from stocks and bonds, you might want to consider energy commodities like natural gas and oil, precious metals like silver and gold, IPOs, or maybe investing in startups.
You can also try peer-to-peer lending, which is considered similar to crowdfunding. How it works is that small businesses will upload a business plan or product on the online lending platform. You then decide if you want to invest in something or not.
More in Pocket Change
-
Exploring The World Of Embedded Finance: A Sustainable Business Model
As time goes by, the world is being introduced to new technology, new concepts, and new ideas, which further work to...
November 7, 2022 -
Here’s How You Can Start Investing And Saving When You Don’t Have A Lot
Let’s be honest: investing is a privilege that only a few can do! Most people work to pay their bills and...
November 7, 2022 -
CEOs vs Celebrities: Who Really Makes More Money?
It’s no secret that being a CEO and a celebrity brings in the big bucks. With multimillion-dollar deals and huge payouts,...
November 5, 2022 -
Here’s Justin Bieber and Hailey Baldwin’s Top Choice For Their First Apartment as Newlyweds
After a private wedding in September of 2018, Justin Bieber and Hailey Baldwin are reportedly shopping around Manhattan for their first...
October 31, 2022 -
The Kardashian-Jenner Clan Loves Spoiling Their Kids– Here’s Some of Their Craziest Gifts They’ve Received
When you’re parents, aunts and grandmothers are all extremely wealthy, expect to get spoiled…and we mean really spoiled… The Kardashian-Jenner clan...
October 27, 2022 -
Want to Save More Money While Living a Languish Life? Move into these Affordable Countries!
Most Americans tend to quit their corporate job in their home country, despite the big salaries they have. The reason? It’s...
October 25, 2022 -
5 Money Moves To Make Before Entering Your 40s
Financial freedom is hard to achieve when you are closer to turning 40, but it is more manageable and achievable if...
October 16, 2022 -
4 Successful Investment Tips From Robinhood Users
As you think about putting your money into an investment portfolio, you will have hundreds of thoughts in mind – if...
October 11, 2022 -
Here’s How Travel Advisors Can Boost Their Business Using Social Media
Let’s face it—social media is everywhere and in everyone’s hands. Because it is such an inclusive platform, you’ll find everything for...
September 27, 2022
You must be logged in to post a comment Login