Let’s just admit it, we all would like a hot tip on how to invest our money from time to time. However, having actionable advice that lasts longer than a day or two is more beneficial and valuable to us. Brad Reifler has released his five investment tips (originally surfaced on Reuters) that anyone can and should be using.
1. Also use caution when investing- Every type of investment out there has some level of risk to it. The wise investor weighs his or her risks before placing even a single dollar in the market. It is up to the individual to determine if an investment is too risky or not.
2. Think about how safe your money is- If you have some feeling that an investment is not going to provide a safe return, move on to something else. Not every investment has to be taken, and Reifler insists that it is better to place your chips on the ones that have proven they are worthy of your investment dollar.
3. Do not only invest in the stock market- Brad Reifler did not just get rich from the stock market. While the stock market is the most commonly known place to put investment money, it should not be the only place that investors are storing their cash. Commodities and bonds are two other examples of places to put some cash, according to Reifler.
4. Be aware of where your money is going- Do not just trust the manager of your money to do what is right for you. Take charge of what is happening with your money.
5. Reifler also says to make sure you have objectives- Do not just invest because you can. Make sure that you have a legitimate reason to be investing at this time.