When it come investment, everyone is always very careful because nobody wants to lose their hard-earned money to scam artists.
This tweet offers you the best advice about investment
This is all you need to know before you invest your money.
But if the fear of losing money gets the better of you, you might never consider investing your money in anything that’ll give you good returns no matter how genuine the deal may seem.
And trust me, failing to invest is a terrible financial blunder you won’t like to make.
Rather than saving and spending the money you make, you can seek advice on what to do with the savings to give you more money.
A tweet by Tola Onayemi, and International Lawyer and Investor is exactly the kind of advice you need to understand what you need to do before you invest your money.
The tweet read: ‘’Try to invest in what you understand; 2. If it's a new investment opportunity, start small and gradually grow your portfolio; 3. If you don't understand a type of investment, use the services of a professional; 4. Fraud is real! Invest after doing background checks’’.
Let’s break down the tips.
Try to invest in what you understand
Before you put your money into any investment, you really need to understand how the investment works. You should understand it well enough to explain it to other people who may be interested in it.
2. Start small
Don’t run with the idea that you need to have a big bag of money somewhere before you can even think of any investment. You don’t need to have a lot of money to invest as you might have been made to believe. Start small and watch your money grow.
3. Seek advice
If a particular investment promises good return and you find it appealing but you don’t seem to understand its workings, don’t be shy to ask questions. Seek advice from people who have invested their money in the same business before. Talk to professionals about it, you’ll certainly learn something from them about the investment.
4. Fraud is real
While it’s a good financial practice to invest your money, also remember fraud is real and it’s everywhere. Shine your eyes before you put your money into any business. There are scam artists everywhere waiting to defraud unsuspecting people of their money. Don’t be greedy because greed makes it easy to fall prey. If it sounds too good to be true, it probably is.
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