Indore, 13 July-2013: Public sector telecom major BSNL enjoys number one market position with 1.8…
Investing isn’t easy and it takes real talent to build fortunes. It is obvious to be mesmerized by great people in this world who made their investment work for them. We bring you the success mantra’s of investment from such superheroes of wealth creation.
Saving is first step to investing
Our investment starts from our ability to save and invest. Good investors always follow the habit of saving and earmarking funds for investment. The well renowned Investment wizard, Peter Lynch, said, “In the long run, it’s not just how much money you make that will determine your future prosperity. It’s how much of that money you put to work by saving it and investing it.” Consistency is the key to success – a small amount invested today will yield high returns in long term through compounding.
Invest into yourself and be your own trusted advisor
Though, market analysis and opinions are available widely, but to make a choice between right or wrong decision comes from your own wisdom. As Benjamin Franklin said, “An investment in knowledge pays the best interest.”
You may require patience to learn the investment skills, but it isn’t rocket science that only few can learn. Learning how to invest is as simple as driving a car – you need to get the basics right. Even if you are not an expert, you must know the investment language to ensure that you are not misled.
Act like an investor – think about fundamentals and long-term gains
There is no better strategy than making long term investments into fundamentally strong stocks. Always make a pick based on the value a company can deliver in long run.
Warren Buffett suggests, “Only buy something that you’d be perfectly happy to hold if the market shuts down for 10 years.”
Let the debt burden not kill your investments
We often try to borrow loans and make investments at same time, and striking the right balance is always a difficult choice. Dave Ramsey’s advice comes handy here – “I would not pre-pay. I would invest instead and let the investments cover it.”
Always, remember to pay off all high interest debts such as credit card, personal loan etc. as early as possible and cover the low interest debt through your high interest investment gains. If you make the wrong choice, your debts could erode your investments.