|Timeless Investment Tips That Work|
Most individuals wish that they had riches but few individuals do. Those that do, seem to have a magic touch that the rest of us lack. How to become one of the fortunate few? We have collected some of the top bits of advice that experts propose can lead you to the golden pot at the end of the rainbow.
1. Buy Low, Sell High
This goes for anything you do. In marriage, look for the partner that no one wants to marry (the town prostitute-gorgeous, but socially unsavory). In food, look for the bitter veggies that no one wants to buy such as kale, spinach, and cabbage. Eating these foods regularly will give you skin that movie stars only dream of. In finances, look for the risky investment that those geeky college bums are twiddling on in their garage. That is how Microsoft and Apple got started. The investors who succeed buy low and sell high.
2. Buy for Quality
Quality is often defined by what is popular and beautiful. This definition of quality sends many people to a life of debt. Quality is what is effective for achieving financial freedom and peace. You can be someone with comparatively few possessions who has a lot more freedom (and far less debt) than outwardly wealthy peers. Buy for quality, not quantity.
3. Buy for Long Term
If you buy something now, will you actually want it 10 years from now? This is what Warren Buffett, the billionaire who built Berkshire Hathaway, proposes as a good litmus test for your investments. Only invest in something that you would want 10 years from now. Other stuff will just end up cluttering your yard.
4. Avoid What Others Love
Warren Buffett himself indicates that a lot of his financial success came from ignoring the popular experts on stocks and business. What do your peers do? Whatever they are doing is going to go up in price due to their collective demand. You will be getting a poor deal for your money. What do others love? Pleasure, easy living, safety, familiarity, money, stinginess, practical matters, entertainment are all items that might appear in your analysis. Avoid those things like poison in your investment behavior, and watch your financial situation improve dramatically.
5. Do What Others Hate
What do other people hate to do? Things like religion, forgiveness, philanthropy, honesty, math, education, humility, overtime work, risk, exercise, suffering are all candidates. Add them to your daily investment behaviors.
6. Little by Little
Quick wealth rarely comes to a person. Usually, the appearance of instant success comes because of years of quiet work in the background. Bill Gates’ sudden boom of Microsoft was because of a quiet programmer, Tim Paterson, polished the original DOS operating system for years, which Gates later bought. Do your life little by little, not in sudden bursts, and you will succeed.
If you learn from these experts, you too can succeed. Implement these tips now, and you will find what you are looking for as an investor. Do not delay. Personal loans Singapore schemes can get you started on the path to riches, but it is up to you to turn a loan into a thriving business. These tips can get you started, the rest is up to you. Be sure to get independent advice on how much you should borrow, and take responsibility for the decisions you make. Never borrow more than you can afford.
|Last Updated on Tuesday, 20 December 2012 20:12|