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Key Secrets For Successful Investments

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Key Secrets to Successful Investments When it comes to developing a successful investment strategy, the first thing that must be understood is that there are no one-size-fits-all strategies, no get-rich-quick formulas and no short cuts. There is no substitute for experience and proper detailed research and analysis. What will be presented moving forward is contingent upon an individual putting in the time and effort to study the science of investing. When it comes to investing, the average person dreams of discovering the magic formula that will instantaneously transform them into a millionaire; however, while it is theoretically possible, the chance of obtaining instantaneous wealth is extremely low. Actually, moving forward, there will …show more content…

A successful investment plan will have a high level of specificity and purpose. Each investment is made with a particular purpose in mind. Even investments that don’t seem to have any type of relationship with one another will be part of an overall strategy in which they play a substantial role. A good way to establish a simple mechanism to guide investment strategies is to use the acronym SMART. • Specific: All goals should be written down and they should be lucid clear • Measurable: If a goal can’t be quantified, then it is not actually a goal • Ask: Be willing to seek advice when necessary. Investing is not the place for pride. • Responsible: Be willing to make the necessary adjustments to the investment portfolio • Transparent: Share goals with family and others — creating accountability. Be Prepared for Jumpy Markets One thing that any successful investor understands is that the market will not always cooperate: however, successful investors are prepared for volatile markets, and they will even find ways to make hostile markets work for them. It is not the market as much as it is the manner in which the investor responds to the market. For example, the natural proclivity of the average person would be to flee when the market begins to drop, but the successful investor will buy at a discounted price — understanding that at some point the investment will regain

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