Invest Wisely

By Tamar Weinberg on January 13, 2008 at 7:00 AM

dollars_2.jpgLooking to invest in 2008? If you’re a beginner investor, it’s important to follow some guidelines when studying the myriad of financial options available to you. Before you invest, it’s important to pay off any debts. Once you’re ready to roll, do your homework and analyse the market. Have an investment strategy and stick to it. Be patient, as investments take time. Even if you make a profit, don’t sell right away:

Avoid taking small profits and big losses. Do not sell your rising star just because it doubled in a few days. Do your research. If it is still a good investment, keep it.

Additionally, diversify your finances. Go for mutual funds, stocks, and bonds. Don’t panic. Above all, learn from your mistakes—keep an investment log—and use the experience to improve in the future.

35 Common Sense Rules for Investing [Moolanomy]


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