I thought you said 2024 would be your year of financial breakthrough, we’re in August now so how is it going? Are you still keeping up with your financial resolutions or should I mind my business? I can’t even mind my business, never! What if I tell you, you can still be on the path to your financial goal even though seven months have passed? This is where I raise you, investments. Before you roll your eyes and say investments are only for the likes of Dangote; stay with me and you’ll see it’s also for you.
It’s very easy for you to look at that money in your account and say, it’s small jare, what can it do? Well, I’m telling you it can do plenty. The whole point of investing is for you to be an odogwu silencer without working too much and that’s what it does, it gives you passive income as it grows over time.
Let me break down the tips for you like ABC:
1. Understand the 1,2,3 of investing:
Do your research, get help, and know what you’re getting into, you can be a JJC but be an informed one. Know what investing means, and know the types of Investments there are; that way, nobody will come and involve you in a promo buy 1, get 20 scheme disguised as investments. There are stocks, real estate, bonds, and mutual funds. These are only a few of the options you have.
2. Know the risk you can take:
This is the point where you have to discover if you’re as adventurous as you think; and you can be conservative, moderate, or aggressive. Simply put, it tests the type of risks you can commit to, low risk for lower returns, moderate risk for moderate returns, or high risk for high returns. There is no shame in whichever place you fall, being careful has never been known to kill anyone, right?
3. Treat your Investment Like a Fruit Salad:
If a fruit salad only contains watermelon, it’s boring and repetitive, but when you add apples, bananas, and other fruits of your choice, it gets yummier and tastier. Same way, it is important to spread your investments across different asset classes like stocks, bonds, and real estate. This helps you to reduce the risk that might be involved in each of the classes you have invested in.
4. Shine Your Eyes (SYE):
Choose your investments wisely; use research tools like financial news, analysis reports, and stock screeners to do this. They’ll help you gather as much information as you need. This is not one of the cases where ignorance is bliss. Start with companies you know and understand their business models. Even after you have begun investing, keep learning, read books, and follow financial news and investment forums. Keep your eyes wide open and your ears to the ground.
5. Keep your Eyes on the Billionaire Vision:
You’re a beginner in this business and from time to time, things might get scary, don’t lose your focus, avoid reacting to short-term market fluctuations, these could be normal. It’ll do nothing but increase your heart rate and blood pressure. You’ve put in the work, so relax, and take a chill pill.
6. Place the Burden on Investment Platforms:
Even while trying to invest, you can still do it the soft way, when you work with a professional. You’ll find that you can make the process easier and more fun by working with an investment agency. These professionals do a lot to advise and help you manage your investment portfolio, to prevent beginner mistakes which could be very unfriendly. Let them be your shoulder to lean on. Credlanche is a good investment platform with professionals onboard to help you through your investment journey; you can get a return of up to 20 per cent on your investment.
Now that you have these tips, you can start your investment journey this month; decide a certain amount to put aside from your next income and begin your journey. Soon enough, you’ll start going aura for aura with the likes of Dangote. You can also chat or call our customer service at (234) 812 – 3778 – 399 for more information on investment, credit, and asset management services.