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5 THINGS TO CONSIDER BEFORE STARTING YOUR INVESTMENT JOURNEY

5 THINGS TO CONSIDER BEFORE STARTING YOUR INVESTMENT JOURNEY

Before diving into the investment market or financial market, consider the following factors critically as they go a long way in determining your success as an investor.

EXAMINE YOUR FINANCES

All forms of investments carry significant risks as well as rewards, therefore it is important to examine one’s finances before thinking about investing. One important question to ask oneself before putting money into an investment is whether or not you are ready to part ways with that amount of money. When going into an investment, you need to have set goals that you aim to achieve, an example would be a specific amount of money you aim to grow your initial capital to, also you need to determine you risk tolerance level, and decide how much you can forego that would not affect your finances, savings or bills payment.

DETERMINE YOUR COMFORT ZONE IN TAKING RISK

Investments do not guarantee more money, sometimes you make profits, other times you incur losses and sometimes lose your entire capital, that’s why it’s important to put the money you saved up, and not your income into investment. One useful advice to potential investors is to research and get enough knowledge about any investment instrument you choose to invest in before putting your money into the financial market.

DO YOU HAVE EMERGENCY FUND

One important saving every investor must have is called EMERGENCY FUND. This is usually about three to six months’ worth of your income saved up as an emergency fund, only to be used in the event of the sudden loss of job or source of income. This is necessary to safeguard your investment, many people will be tempted to pull money from their investment in the event of an emergency, this renders the investment unprofitable as you have to make an early withdrawal, but the presence of an emergency fund keeps your investment intact while you take care of such emergencies.

AVOID FRAUDS AND SCAM ARTISTS

Fraudsters are all over the internet posing as investment schemes and whatnot. Ensure to do thorough research on any agency or broker you choose to invest with, so as not to fall into the hands of fraudsters. Take your time to talk to family and friends before investing.

WHAT NEXT TO DO WITH YOUR MONEY

It is not wise to put your money into investments when you have a huge debt you are paying off, or a project gulping up your funds, you would have to battle with the urge to terminate your investment early to pay up such bills. Before you decide to invest your savings, make sure to pay off any debts you might have, set up every necessary insurance, then you can proceed to invest.

Once you are done with all these, you can make investments in profitable bonds, stocks, securities, etc, or use and investment service like Secure Capital Limited. Visit www.securecapitallimited.com to start investing today.  

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