If you are a beginner in investing, learn how to become a successful investor in 9 ways today. It is true that investing can help you not just financial freedom but also prosperity, but, you need to acquire certain knowledge and skills in order to succeed in investing.
Related: How Long Does it Take to Learn Investing in Stocks?
Some beginner investors failed because of lack of knowledge and interest. Knowledge, skills and interest are very important in investing. Even though, you have knowledge and kills but your interest isn’t that very deep, your knowledge and skills will only be a waste.
Remember, you have to keep motivating yourself and maintain self-disciplined in investing, to make that happen, you need “interest”. Try to think about the reasons why you’re investing, are you investing for yourself, for your loved ones, for the things you want to acquire or for financial freedom? Then these reasons will keep you motivated to keep investing.
Benefits for Investors
You will increase your confidence, add more knowledge if you follow this tips. Plus, you will not only become an average investor, you will become a rich and successful investor. This will benefit the beginners or newbies in investing.
Things Needed as an Investor
All you need are mentors, investment capital, books and other financial tools that can access online such as compound interest calculator, retirement calculator, etc.
Procedures to Become a Successful Investor
1. Attend seminars – attend financial literacy or investing seminars. It will surely boost your confidence in investing, after attending seminars, apply what you have learned. Remember, experience is the best teacher.
2. Read a lot – buy books, magazines and newspapers related to investing. Try to make reading a habit. It will surely increase your knowledge in investing. Read the book “intelligent investor”, and always visit InvestmentTotal.com if you have no time to read books.
3. Find a rich mentor – make sure your mentor is richer than you. Find a successful investor, make friends with him and observe how he succeeded.
4. Model a successful investor – search for a successful investors like Warren Buffett in stocks, Robert Kiyosaki in real estate investing. Try to adapt the way they think about investing. It will help you to increase your interest because you want to become like Warren Buffett, Donald Trump, Robert Kiyosaki – a successful investors.
5. Take as high risk as you can – if you want to succeed, take as high risk investments as you can. You can learn how to minimize eventually if you are investing, how can you learn to manage the risk if you only take “less-risk” or low risk investment. Remember, skilled investors take high risk but they know how to minimize and manage the risk.
Also Read: What Makes an Investment Risky?
6. Focus – focus on which areas you want to become an expert. If you want to become a real estate investing expert, focus on real estate. If in stocks, focus only in stock market investing. It is also possible that you become an expert in different types of investment, however, slowly learn one at a time.
7. Continue learning and growing – even rich people keep on learning. If you want to really succeed in investing, do not stop learning and growing. Find ways to increase your knowledge in finances such as money management, investing and familiarize the different types of investments.
8. Stay motivated – if you are not well motivated, chances in becoming a successful investor is very low. Know your reasons why you want to succeed, is it for financial freedom or just following the trends, maybe you invest because your friend is investing. If your friend stopped investing, you stop investing. It won’t work that way. Investing is a lifetime commitment – especially if you are investing not only for yourself but for your loved ones.
9. Remove negative thoughts in your mind – rich investors are rich because they have a rich mindset, they equipped their mind not just knowledge but also proper and rich mindset that support their body and mind to succeed. Remove negative thoughts such as stock market will soon crash. I won’t become rich in investing. And the worst, you believe money is not important. If money is not important, why you’re investing anyway? I conclude, you have already read Money or Love Discussions.
Other Useful Tips to Become a Successful Investor
There are financial literacy seminars or one-on-one coaching conducted by financial experts, most experts are certified financial planners. It is good to have your financial planner especially if you are serious about not just to become a successful investor but also serious in preparing your financial retirements.
Make sure your financial coach/mentor has hands-on experiences in investing. He should also a certified financial planner to give you the best and solid financial investment advice. There are free investment advices you can get online or even on the books, however, free advices will only cost you more money.
The reasons why I don’t suggest free investment advice is – sometimes free investment advices are expensive and sometimes they are the worst retirement advices. Read more about free investment advice for further explanation. Hire a financial coach preferably certified/registered financial planner.