4 best investment advises ever

Everywhere one goes, there are well-wishers who are ready to give investment advice at the drop of a hat. Not every advice is good, not even close. What works best for one person may not work well for another, since everybody is bound to have different goals – some would want to get rich quick, while some may be in it for long term wealth building, some may withdraw all their money at the first sign of a bad market, while some may keep their cool even in multiple such situations. The difference, here, is in the experience and intention of the respective investors.

"Someone's sitting in the shade today because someone planted a tree a long time ago." – Warren Buffet

1. Be patient

The best time to invest was several years ago. The second-best time is now. The sooner you get in the better. Don't wait to buy stocks. Buy stocks and wait, most likely those will pay off dividends.

In a world where everyone is in a rat race to get rich quick and build a luxurious life for themselves, it is important to be patient in this game of wealth building. The cards may or may not be always in one’s favour. One needs to stick with his/her investment options and make them work. As you know, the best investment advice doesn’t exist. Think for yourself in accordance with your short and medium term investing goals and make your money work for you.

2. Eliminate the element of risk as far as possible

Risk comes from not knowing what you're doing. Therefore, one needs to always educate oneself about the stocks he/she is going to invest in. Investing is a broad field and it is true that losing money is easy if one doesn’t do the due diligence. The more one can learn, the more one will earn.

3. Don’t blindly trust public opinion

It is important to take every investment advice with a pinch of salt. Public opinion about the best stocks to invest in or the right investment decision for the future may not necessarily be the right way to go. One needs to keep in mind that not everyone has the same investment and financial goals. Therefore, to each his own.

4. Do not invest in a leaking boat

What this statement means is that one should not invest more money in a venture which is losing money. Human spirit doesn’t want to give up investing in the hopes that his/her hard earned money will fetch handsome returns for the person, but one needs to face the facts up front and not lose any more money by investing in that venture.

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