When you’re looking for your next investment whether you’re interested in stocks, bonds, Treasury notes, mutual funds, or real estate it’s important to remember a few key points:
1. Never invest for hope – It’s important that your investments aren’t riding on the hope of above average rates of growth over a long period of time. In most cases, growth is factored into the price of stocks.
2. When in doubt, don’t buy it – If when researching a possible investment, you’re unclear about a company, or unsure about their growth reports or something just doesn’t make sense, it’s usually best to put your money back in your pocket and look for another investment that makes sense to you.
3. Patience – If your investment drops a few dollars from time to time, that doesn’t mean you should press the panic button. Dean Graziosi always suggests that investors show patience with their investments and remember that you’re in it for the long haul. So short-term fluctuations are expected, but in most cases nothing to worry about.
4. Avoid dishonest people – Seems like a no-brainer but it’s important that no matter how appealing an investment might be, if you’re going to do business with someone you don’t feel comfortable with, it’s best to look for another investment and people that you can trust in managing your portfolio.
5. Stay up on current events – Of course the best person to watch for investment opportunities is you. Read financial and real estate publications watch the news and keep track of what is happening so you can make wise choices for your investments.