Everyone wants to be rich. Everyone wants to avoid the worry of putting food on the table and paying his or her monthly EMIs and bills with the money he or she earns. Does everyone become rich? We know the answer that only those who invest become rich. The obstacle in investing is the fear of investment. Losing money after investing hard earned money is a nightmare that we tend to avoid. Warren Buffet and Rakesh Jhunjhunwala are two names that are arguably the best in the field of investment. They have given the world the best investment plans that young and new investors follow dedicatedly. These two investment teachers/mentors believe in the investment mantra that long-term investment is the best investment. Let us know more from the top investors in the world.
Know your investment goals
According to Peter Lynch, an American investor and Mutual Funds Manager, investment depends on your goal. How long or short is your goal? Is the goal giving you higher return or meeting your future needs? Few of the investment options that you can choose are Mutual Funds (SIP), ULIP, Bonds, and PPF. The best part about SIP Mutual Fund is the use of SIP Return calculator to know where exactly you stand in the next five years or ten years.
Know Life’s Priorities
Understand goal and your investment personality assessment go simultaneously. Investment personality by Saly Glassman plays a vital role in deciding the priorities of your life. Meet an expert in your area for the evaluation. You can also check it online. The advantage of knowing your life priorities through this process helps in the following ways.
- You get to know about your confidence in the field of theinvestment market in future
- How you devise your way through frequent changes in the market
- Your experience in investment
Understand the Investment
You are always late to invest. The sooner you invest, the better you get in return provided you have the priorities and goals set. Warren Buffet adds to this with a powerful statement, “If youcannot, don’t invest”. This quote points to the fact that unless you are ready to invest time and money, you should notinvest. You should be prepared to invest for long-term, understanding the market and when you have the required knowledge of the investment.
Practice Patience with Investments
According to George Soros and Warren Buffet, patience paves the way for ahigher return. If you are in a hurry, investment is not your cup of tea. Long-term and big investors invest patience for their success stories in future. Are you a patient soul? If not, short-term investment will take a lifetime to make your prosperous.
Be Prepared for Contingencies
In an article titled, “FAILURE: The Secret to Success”, persistence is the protagonist. Suze Orman also reiterates that one should always prepare for unfortunate events in investment. Although there are ups and downs, you got to be persistent and determined and not lose heart. When you experience theextreme emotion of happiness and sadness with your investment, you should wait for the phase to pass. Any decision in haste can ruin your future goal.
Your best investment plan includes the above five points by world’s most significant investors. Are you motivated to invest now? If yes, there are a few points to consider opting for the best plan for you. There are multiple investment instruments such as Savings, PPF, Mutual Fund, Fixed Deposits, Bonds and Debentures, Company Fixed Deposits and many more. It is a challenge to pick one of those many options. With two critical strategies, you will make a choice conveniently.
Exponential Growth in Investment
Research and development will give you the story about each of the instruments of investment. There can be high risk or low risk. With higher risk comes higher returns. On the other hand, you do not want to take that risk with the fear of losing your money. The choice is yours. Do you want to make the more significant leap and multiply your wealth or be confined to the less growth?
Safety of Invested Capital
Do you fear that you will not get your money back in future? It is wise for you to avoid the emotional stress and choose the safer option like that of Savings and Fixed. Without risk, there is no multiplication of your wealth. What is your choice?
You are responsible for what you have in life. You will be where you plan to be in future. Your choice makes all the difference. Investment is one of the best decisions made by the most significant investors. These lessons have helped many in the past. It is your turn now to explore the possibilities of investing and earning huge.