If you want to grow your wealth then the best way to put your money to work is through investments. I was always a little skeptical in the past about investing my money, I have never really been a risk taker but after a conversation with a mutual friend Micheal Blitzer Kingstown Capital hedge fund manager, I realized that if I was smart, there would be far less risk.
So far I have healthy portfolio of investments and I’ve seen some strong returns on many of them, not all of them of course, but I have made far more than I have lost. If you want to get started with investments then here are some of the ways in which you can do it.
Educate First
Whatever area of investment which you are looking into, you should make the time to full educate yourself about how your investment will shape up. Before investing in my first stocks for example, I spent almost 6 months researching the stock market, how it moved, what made it tick and which companies looked like sound investments. This time was really well spent and it not only ensured that I’d have more success in the market but also that I had more confidence when it came to putting my money where my mouth was.
Start Slow
Unless you have experience in the field then I wouldn’t start investing in something as large as real estate straight away. The best way to get started with investments is to start off slow and small until you get a feel for what you are doing. For example, the first property which I bought, I decided that instead of placing all my money into it, that I would instead create a consortium so that I was investing less money and was able to share the risk. This idea went very well and when the time came to buy a second, I went all in on my own. There is no rush to grow your wealth, start off small and build from there.
Hire a Professional
One of the smartest moves I made when I started investing was to consult and utilize the skills of professionals in order to better manage my investments and to take their advice. I originally viewed this as an unnecessary spend but in reality the advice which I received paid for itself in no time at all. When it came to managing my portfolio of investments, I began to get confused and I was a little disorganized, as soon as I hired an investment manager however, all of that changed and I was able to get a firmer grip on where my money was.
The key to investing is just to go ahead and do it, once you have first started to invest you will see that it actually isn’t so scary or risky after all and you can make some strong returns from smart investments.