There is practically an infinite amount of investment tips and financial advice on the internet. While a lot of it is helpful and even valuable, you still have to weed out the quality stuff from all of the useless information. Not that the quality financial investment advice for you will be the same as for everyone else, as everyone has different needs and circumstances when it comes to money.
You really need to create a detailed plan and try to follow it. Some of the things you need to think about when putting that plan together:
• Your goals and ideal, but realistic timeframes
• Types of investments that will fit those goals
• How to go about diversifying
• The amount of risk you are comfortable with for trying to achieve goals
• What to avoid / how to stay clear of trouble
• WHO to avoid
It’s always a good idea not to take any risks with any financial investment advice that seems too good to be true. Just like with any other else, it probably is too good to be true.
Another mistake you definitely never want to make is to try and make investments with money that even isn’t yours. If you have a loan or line of credit, use them responsibly. Do not take any risks with them. Even if you profit from the investments, you’ll still need to pay the money back – with interest. Set aside your OWN money and save for the future. Create a budget that includes your own money and decide how much to designate to investing.
Financial Investment Advice Needs Pluralism
Never hold onto just one investment. Changes in the markets can really happen suddenly, before you even have time to react. Some of the best financial investment advice you can get is to diversify.
Don’t try to be savvy and “beat the market”, even if you already consider yourself to be a fairly experienced investor. Flipping stocks is extremely difficult and only a small percentage of day-traders manage to do it successfully and make profits from it. At some point you’ll have to start using a brokerage account. Luckily, there are many online broker solutions that include tutorials and resources to help you with your investments. Choose one that is tailored towards investors with the same kind of style, risks, and goals as your own.
Get started with your research by signing up for a quality newsletter that provides financial investment advice. One that is recommended by many investors is Motley Fool. It’s a good place to find many useful resources.