Having offered some tips in a previous article on getting started in the world of investing, I have begun to receive several messages asking me what next.
Though I’m proud when I hear people tell me that they’ve overcome their initial investing fears and made some small start into the markets, I always reiterate the need to continue this route.
If you’ve taken the plunge, and are starting to enjoy this exciting sector, here are two additional tips to ensure that you continue to keep pushing forward with your investing.
Put Your Money in, Little and Often
For many people, continuing to invest once they’ve had a good start is usually their biggest fear. Of course, the fear of losing money is natural but when it comes to investing, think about what would be happening to this money if it wasn’t being invested in the market?
How much would you stand to make if this same amount of money was left in a bank account? With low percentage annual return rates, alongside inflation and taxes, the answer is more than likely very little.
If you have a significant amount which you want to add to your investing, why not break it down into more manageable amounts and invest it over a set number of weeks, instead of all in one go?
Resist the Urge to Continually Check Your Investments
While it is true, the markets will experience a succession of ups and downs, this doesn’t mean you need to become obsessed with checking your investments progress.
Make a note to keep a check on them around every quarter to six months, and you will be able to see a long-term historical picture of your gains.
Finally, think of the bigger picture. Keep in mind exactly why you began investing and visualize your future goals. This will make you more likely to stay the course and eventually succeed with your investment path.