Start the New Year right with a resolution that will benefit you for 2016 and beyond: be smart with your investments! Here are three essential stock investing tips.
1. Stay the course.
Impatience with the stock market can lead to knee-jerk reactions, missed opportunities, and a lack of consistency. Don’t let fear make you lose your retirement; instead, stay the course.
We need water to survive. The sun rises and sets daily. The stock market fluctuates. Those are just the facts of life.
History shows that patience with the stock market can pay dividends. Proof: most stock investors who stayed in the market during the 2008 crash are doing much better now than if they had left!
2. Develop goals.
Are you planning for retirement in 35 years? Or are you investing for the short-term, maybe for that addition to your home to expand your kitchen, or to retire in the next five years?
No matter your plan, know your why. That is, why are you investing?
Once you answer that, you can follow our second stock investing tip: develop goals.
With a goal, you can decide how much you need to invest to retire at your desired age and have enough saved to enjoy your retirement.
Be realistic about your plan.
This goes back to tip #1: know that there will be fluctuations in the market and that you won’t reach your goals overnight. Like a great holiday turkey, some things take time.
3. Find a trustworthy wealth management advisor.
You want a wealth management advisor who is working for you; an advisor with years of experience, who has a proven plan, and who wins when you win, loses when you lose.
Great news: you’re in the right place.
We invest in stocks of great companies, saving investors from the drawbacks of mutual funds and bonds.
Are you ready to put these stock investing tips into action? Schedule your free 15-minute financial assessment today!