Maybe some of us want to believe that it does not take money to make money. I would like to believe it too but so far, I found that it is more real when I use money to make money, and it is much easier too. Right now, if you are investing and you have all the intention to let your money make money, then I will share two simple tips with you.
But I do not make any guarantee on the end results here. It may vary according to how well you apply them.
The First Tip: Create More Winners.
‘Winners’ refer to your investment that gives you positive returns. Now, the only concern here is return on investment (ROI). You may use a high risk portfolio, slow but safe return investment vehicles, and other kind of investing but the bottom line is; it gives positive return.
Once you have identified a winner, you can duplicate the process and acquire more winners. It may take a while for you to select one successfully but in the end, it will pay you in spades.
Along the way, you probably going to make mistakes and wrong decisions, but you need to take it as a lesson. The faster you learn, the faster you can reap the reward from your investing effort.
Perhaps, you can skip the learning curve faster by having experts to guide you or get yourself educated. There are resources you can tap into with some research. An expert used to advice other investors, “Train your brain to see what your eyes could not.”
The Second Tip: Cut Your Loses
This tip is so obvious but in reality, people like to keep a losing portfolio, hoping that a miracle will happen and turn things around to their favor.
But the wise knows that, “Chances favor the prepared mind.”
The prepared minds are willing to let go of the losing portfolio when the situation calls for. They rely on hope after they have made enough ‘calculated-risk’. In fact, they would not jump into an investment if they did not devise the way out first.
Find winners and kick losers; this is probably the smartest investment tips to have your money make more money.