Investing can be a great way to grow your wealth and prepare for your financial future.
However, I want to communicate the mistakes I made that I find common which can jeopardize your investments.
The first mistake that I made was not having a plan.
Early in 2019 and 2021, I started thinking about investing but didn't have a plan.
I was putting money into stocks, putting money here, and just no real strategy for how I wanted to go about doing that.
Starting anything without a plan is like going to the middle of a desert without a GPS or any kind of navigation.
Hence, it's important to have a clear investment strategy and goals before investing. This can guide your decisions and keep you on track.
So, If you don't have a plan for where you are allocating your money…
Your money will go to someone else and help them reach their goals.
And you don’t want this to happen.
So if you want to avoid making these mistakes, learn from my mistakes of costing millions, and see you on the inside!
Episode highlights:
00:00 Welcome to The Boring Money Show
02:03 Have a clear investment strategy and goals before start investing
05:22 I went all in on learning how to deploy capital on the blockchain
07:06 Diversification is key later on
08:47 Don’t chase high returns
11:10 Do thorough research before making any investment decisions
13:55 Give yourself enough time to see the ROI
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Resources:
○ The Boring Money ROI Cash Flow Calculator: https://www.mrboringmoney.com/cashflowcalculator
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www.mrboringmoney.com
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And remember… Stay calm, print money and live life on your terms.
DISCLAIMER:
All information I share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.
See omnystudio.com/listener for privacy information.
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