These Three Tips Will Help You Start Investing the Right Way at Your Own Pace
Think and act like the tortoise in the fable “The Tortoise and the Hare”.
With the current system, you have no choice if you want to protect the fruits of your labor: you have to invest to avoid seeing the fruits of your labor constantly devalued by the disastrous decisions taken by your government or central bankers.
For many people, however, investing seems like something too complex. As a result, too few people take action. The majority put off taking care of their future regarding money.
If you are one of those who would like to invest but have trouble getting started, I offer 3 simple tips that will help you start investing the right way at your own pace.
Find your investment comfort zone
There is no shortage of investment opportunities. You are spoilt for choice. Faced with such a choice, many people find themselves lost. Some will act by spreading themselves thin in different markets.
A good tip to start with is to focus on one market and build up your skills in that market at your own pace.
No one can master all areas perfectly. Specializing in one area is a good way to limit your risk of error. Some will choose the stock market, others gold, bonds, or even the cryptocurrency world.
The important thing in my opinion is to find your investment comfort zone.
Once you have found the market that suits you best, you can get started with more peace of mind. Once you’re more experienced, you can then look to diversify more into different markets. But this will come later when you have gained confidence in your investment abilities.
Be slow and steady like the tortoise
During your childhood, you have all at least once read or heard the story of the fable of “The Tortoise and the Hare”. On one side, you have the hare who has superior means to succeed in winning the race. On the other, you have a tortoise who is less spoiled by nature to win a sprint race against a hare.
Yet, in the end, the tortoise wins.
The moral of this story is that those who move slowly but steadily always end up achieving great things. For me, there are 6 essential lessons you can learn from this fable to better master the Bitcoin game.
Like the tortoise, you need to start investing as soon as possible with what you have available for it. Don’t think that the little money you have to spend on investing will be useless. It’s just the opposite.
The tortoise won the race by being consistent in its efforts. You’ll need to do the same with your investments. Even $100 a month will make a huge difference over 20 years if you are consistent in your efforts.
The important thing is to start investing early.
Define a plan, stick to it, but stay flexible
Anyone can achieve great things as long as they have a plan. There is no shortage of quotes from famous people telling you that having a plan to succeed in life is essential.
On a personal note, I like this quote from Earl Nightingale:
“All you need is the plan, the road map, and the courage to press on to your destination.”
So to succeed in the world of investing, you simply need a plan, a destination, and then the courage to act on it.
Once you have a plan, you’ll need to stick to it as often as possible. This will prevent your emotions from getting the better of your logical reasoning in the event of a crash in the market you are investing in.
However, don’t be dogmatic.
While it is important to stick to your initial plan, you must remain flexible to take advantage of any more interesting opportunities that may come your way. Don’t change course constantly, but remain open to all possibilities. You never know what tomorrow will bring.
Final Thoughts
Investing is a necessity in a monetary and financial system where monetary inflation has become the solution used at all times by central bankers to fight possible economic crises. You can’t afford to let the fruits of your labor sit in a bank account.
That would mean a loss of purchasing power that would be unavoidable over time.
Once you understand this, you need to take the initial step that will make all the difference in the long run. The three simple tips I’ve just given you will get you started on the right footing at your own pace.
This slow and steady approach will allow you to obtain excellent results like the tortoise in the fable “The Tortoise and the Hare”.
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i tried stocks and options but crypto is the only thing that can 10x my networth in 1/2 the time making it about 8xs more efficient. That said crypto can be high risk and a medium learning curve. Eventually i settled on the RH principles and ecosystem to greatly boost rewards while minimizing fees and risk. This article is good investing basic advice.