Shaun Stenning Top 5 Tips for First-Time Investors
Shaun Stenning, an investor, and entrepreneur who has created an exponential financial portfolio for himself wants to help first-time investors make the right decisions, so here he’s sharing his top five tips on investing.
Investing in the right companies, stocks, crypto, and real estate can bring great financial gain, but it doesn’t come without difficulty.
1. Create A Plan
To make the right decisions regarding investments, you need a well-thought-out formulated plan. Before you invest, ask yourself the following questions: How much money am I willing to invest? How much money can I afford to lose? All investments come with some risks, and setting limits can avoid getting in over your head. You also want to ask yourself, what’s the goal? Is it a number? Or is it a more long-term goal such as a retirement plan? How quickly do you need to see a return on your investment? Shaun Stenning believes that before a first-timer chooses their investments they need to specify their goals as this will dictate the companies, stocks, or cryptocurrency they choose.
2. Keep Emotions Out of Investments
People have trouble investing when they are emotionally involved. You want to have an even temperament when it comes to making business decisions. Having the right temperament is generally what keeps people from finding financial freedom through investing as it leads them to make wrong choices based on feelings rather than facts. Your “gut feeling” may be helpful in life but when it comes to investing, the facts and figures should lead the way.
3. Pick Companies You Believe In
When you are choosing which companies and or stocks and cryptocurrencies to invest in, you’re becoming a part-owner. Be sure to notice not only the numbers and trends of a business but the overall ethos of the company. Don’t invest in something you don’t connect to or understand. When investing you should be thinking of what the company brings to the public and what you see its future to be.
When investing for the first time, be sure to make decisions that can handle the ebbs and flows of an ever-changing market. Don’t put all your eggs in one basket by only investing in a single company, rather you should consider investing smaller amounts in multiple companies. This is particularly important if you’re thinking about investing in crypto as that will bring high returns but also represent a greater financial risk.
5. Follow Through
It can be tough for first-time investors to feel secure in their choices, and it can be easy to fall prey to fear. Don’t get lost in the nitty-gritty of market movement, inflations, interest rates, and share tips. Stick to your plan and see it through for the time you’ve allotted, which should be decided before you invest.
Shaun Stenning Phuket has made a living off his smart financial investments. If we understand that planning a diverse portfolio of investments leads to long-term returns and know that we can’t let fear drive our decisions, we too can see the immense financial success that investments can bring.