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Top Investment Tips from the Professionals

by My Journey to Millions

Getting involved in the investment arena can be nerve wracking if you’re not sure how to get started or how to capitalize on your returns in the most effective way. What follows are some of the best real estate investment tips from professionals.

No matter where you plan to invest your money, you should always work with a professional who you can bounce ideas off of. Having someone else you can reach out to can serve you for many years to come.

Always be Diversified

Having investments of several different types and in several different places benefits you if something crashes and burns.

While it’s certainly a good idea to pick a strategy to start with, you also want to be able to return to your investment plans at various times and determine what’s best for you. Over time, your goals will change and you want your portfolio to reflect that. Starting sooner rather than later gives you some flexibility and the chance to determine when you need to update your plan. Being adaptable and also looking ahead to the future is strongly recommended, especially if your investment goals are to help pay for some or all of your retirement. An outside professional can evaluate your progress towards these goals and help you adjust as necessary so that you’re always on track.

Avoid Thinking Linearly

If stocks in the United States are outperforming those stocks in emerging markets, you might be tempted to think that this is a long term trend. However, this is a good time to diversify and consider international stocks. Having the right advisor can go a long way.

Consider Investing in Real Estate

You might be under the impression that investing in real estate is something just outside of your reach. However, there are many different strategies to invest in real estate and you simply need to find the one most appropriate for you. If you have limited funds to get started, you might, for example, flipping houses or investing in a real estate investment trust where you get profit paid out from the trust itself. This allows you to get in on the action to get your feet wet and feel more comfortable as you grow.

Always Have a Savings Account

Working hard and saving is the best way to protect yourself for the ability to invest in the future as well as to plan for your own retirement. Far too many people are not factoring in that longevity in the United States is increasing. This means that it is essential you think ahead about how you will plan not just for your own retirement but for all of the years that follow it. Outliving your savings is a serious concern that could generate fear and anxiety as you near your retirement age. Unfortunately, however, there are limited options for what you can do at that stage and this is why you need to plan for retirement now rather than later.

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Randy 10/22/2016 - 8:59 pm

I love the thinking linear aspect. Too often people assume that what happened in the past is bound to continue into the future. This is an easy way to lose money and I think if anything sets you up for failure. Thanks for sharing!!!

Evan 10/27/2016 - 12:46 pm

It is very hard thing for people to do.

Millennial Money 11/02/2016 - 6:58 pm

Be open to advice from professionals and family. They can help you make more objective decisions about your investment and saving strategy. Thank you for pointing this out.

Evan 11/08/2016 - 10:39 am

It is often hard to have these types of conversations with family


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