Nigerian investors come in: improve your investing habit and Be A Good investor
Financial freedom and wealth is best guaranteed by increasing your savings and at same time increasing your investment.
One will agree with me that money that is saved in the bank is almost useless as inflationary rate rises, one will be left with a less financial power to make purchase over a period of time.
As a smart investor, its best you invest your money in profitable venture that will guarantee you a more secured future. Just knowing the stock market and principle that governs and have having a good and healthy investment lifestyle is a key and factor to consider if you want to be a successful investor.
This article is an eye opener that will show you way to improve your habit when it comes to investment.
Keep at it
One of the criteria of a good investor is consistency, they don’t just start today and stop tomorrow, your investment plan must follow a well detailed and solid plan that must be consistent more also you have to learn how to conserve and preserve your return on investment rather than eating them up.
The key here is to keep investing and reinvesting till your very last breath. That’s the best way to make it to the top.
Some years back Albert Einstein the Noble prize winner was asked to list man’s greatest invention,surprisingly he said ‘compound interest’. He went further to stress that , “compound interest is regarded to him as the new eighth wonder of the world,
Have a plan
If you have a solid goals without any concrete plan on how to get them achieved, is nothing but a wish.
If you could well defined your financial goals and they are good, then you have to put up a well detailed plan in place to achieve all set goals.
Nobody invest nowadays without having a plan on where the investment is heading to in few years time to come. Learn to plan ahead, decide on the best area to invest but never fail to calculate risks involves and the best way to minimise such risk because that is the best way to improve your self when it comes to investing.
Wait on it
Return on investment takes time and one need extreme patient before reaping the reward from investment.
Secondly an investor must be disciplined and eager to learn but this must go hand in hand with patient because if you aren’t financially disciplined you won’t have the mind to let go of funds and also you might be frustrated when the expected return fails to come quickly.
Another thing you should know and take note of is that the market will not always be proposing huge returns on investment hence patent is highly needed to pull through.
You can Be a copycat but also try to think for yourself
You can copy from other successful investors but to stand out from others you should learn how to think for your self, you should learn how to carryout research mostly on those who have made it to the top.
One of the main points here is to learn from their mistakes and also research on best possible practice to avoid those problems because that’s the only way to avoid such problems they encountered.
Here are some Tips to start investing with little money
If you reside in Nigeria you will agree with me that income and wages lag behind our expenses and expenditure. The bad economy we are experiencing in Nigeria has made almost everything to be on the high side and made one to wonder if they will ever return back to normal Like before.
Set a Realistic Target:
for you to climb on top requires you to be consistent because riches don’t just come over night, you have to follow a plan after setting up your target. As you are setting up your target don’t make it unrealistic or too ambitious.
Like for an example you could say let me save 200,000 naira every 6 months and in 3 years grow it by 40% and so on. If you keep a realistic goals and accomplished them at the end of the day then you will notice that your investment confidence will be boasted.
Choose an Investment instrument:
You must have heard of Real Estate,Stocks, Forex, Gold, Mutual Funds, Bonds and the likes of them. Although most here promises little returns but are more likely secure than those that promises high returns. Choose wisely when making that investment choice, don’t just look at the return but look at the risk involve.
Follow a role model:
there area a lot of investors that made it here in Nigeria but very few are ready to tell their secrets. Not to lose focus its best you look for a role model, get their books if possible and their history .
Study the Market Patterns:
take your time to carefully study the market, where the market is heading to and where role models are investing. You should be able to predict what the market will be like in few months or years to come
Although your prediction might nor be 100% accurate.