It happens to the best of us—that moment when we think, “I wish I’d known this sooner!” For a lot of people, it hits when investing. That’s why we’ve gathered a few tips seasoned investors wish they’d known sooner, like:
• Compounding helps your money grow faster, so investing early is a big plus.
• Introducing small habits can help you save more and resist the temptation to spend.
• Investing in a balanced fund can give you instant diversification across stocks and bonds.
TOP 3 THINGS YOUNG INVESTORS MUST KNOW
1. Time is on your side.
Ever been told not to wait until the last minute? That goes for investing too. The earlier you start, the longer your assets can grow. Compounding helps you get more bang for your buck the longer you save.
When you start investing early, your portfolio can withstand more risk. That's because your portfolio has more time to earn compound interest or bounce back. So, you can be more aggressive with your investments.
Word Of The Day : Compound Interest
Your investment growth overtime as you continue to reinvest your starting amount plus each year's return's. Simply put, the longer your money is invested, the more return you may see.
• Compounding helps your money grow faster, so investing early is a big plus.
• Introducing small habits can help you save more and resist the temptation to spend.
• Investing in a balanced fund can give you instant diversification across stocks and bonds.
TOP 3 THINGS YOUNG INVESTORS MUST KNOW
1. Time is on your side.
Ever been told not to wait until the last minute? That goes for investing too. The earlier you start, the longer your assets can grow. Compounding helps you get more bang for your buck the longer you save.
When you start investing early, your portfolio can withstand more risk. That's because your portfolio has more time to earn compound interest or bounce back. So, you can be more aggressive with your investments.
Word Of The Day : Compound Interest
Your investment growth overtime as you continue to reinvest your starting amount plus each year's return's. Simply put, the longer your money is invested, the more return you may see.
2 . Max Out Your Savings, Not Your Credit Card
Cutting costs can lead to more money in your portfolio. Swap out that GHC 50 lunch for the GHC 20 lunch and invest what you would have spent.
If you find yourself with a little extra cash. Invest it, don't spend it. You won't be as tempted to spend it if it's not sitting in your bank account, that benefits you in the long run.
3. Balance things out
Investing in stocks and bonds (diversification) is a way to grow your money while reducing risk. balance funds such as CAL Benefit fund. This fund offers diversification in a single investment.
