13. Keep investments simple
Dec 14, 2019Investments don’t have to be complicated to make money. In fact, they shouldn’t be. If you don’t fully understand how something works, do not invest in it. If you think it might be illegal, don’t invest in it. It is up to you to nourish and grow the seeds of savings you are planting in the form of investing. As any gardener knows, you have got to make certain where you are planting is the right environment for the seeds you are planting. How’s the soil? What nutrients and minerals does it have or is it lacking? You have to know this about your investments, too. When you research the areas of your potential investment, it’s called due diligence. You have to do your due diligence and check on everything and look at every possible scenario. Only do what you know and understand. As you learn more, invest in more. However, don’t go faster than your education. It’s okay, even good, to take it slow when you first begin to invest.
Also, let your intuition be your guide. If something doesn’t “feel” right in your gut, then don’t do it. People are way more intuitive than they give themselves credit for. Trust your instincts. I’m going to restate what I said in Step 12 in case you missed it. Never invest in anything that you are not an expert in and realize that only 20 minutes of study a day for a year can make you an expert on any subject. I believe you’ve got this!
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