Think you can turn P100,000 into P1,000,000 in one year? Before you start read what we have to say…
Number 1: Without proper research & analysis is gambling
Conducting thorough research into your chosen market, what investing is and how it works and ultimately how your market behaves when things get tough in the news will give you a better standing in terms of making worthwhile investments.
Rushing with hearsay will destroy your entire wealth. Take time to read and learn about the company you are investing. There is one approach that you may want to consider – Value investing is an investment strategy that involves picking stocks that appear to be trading for less than their intrinsic or book value. Value investors actively ferret out stocks they think the stock market is underestimating.
Number 2: No get rich quick attitude
Start with an end in mind; always be aware that stock market is a mid-long term approach and with proper approach Stock Market can be your IGA (Income Generating Asset).
Market goes up & Market all do go down – panic is the wrist thing can happen to any investor. Stay come and know the reason you have invested in the companies that you have chosen. Believe in your investment and stay calm.
Investment horizon should be around 3- 10years or even more if you have the luxury of time.
Number 3: 80/20 rule
Your savings goal should be 20 percent of net (after-tax) income; 6% put into your insurance protection (is a must and a necessity so that you won’t be a liability to anyone around you. The remaining 14% invested and ensure that the funds go to work. (Stock Market, Bond, Money Market, Mutual Funds and etc).
Number 4: Invest on Skill Education
Education gives us a knowledge of the world around us and changes it into something better. It develops in us a perspective of looking at life. It helps us build opinions and have points of view on things in life. People debate over the subject of whether education is the only thing that gives knowledge.
I believe education is the most important tool you can receive, that can bring you most success in society today. Education lessens the challenges you will face in life. The more knowledge you gain the more opportunities will open up to allow individuals to achieve better possibilities in career and personal growth.
Ultimately SKILL EDUCATION is vital for one to succeed in real life.
Number 5: Build a Solid Foundation
Having insurance offers you financial security and also peace of mind. No amount of money can replace your peace of mind. So, when you have insurance you know that you are secured against any unforeseen events in life, and this gives you complete peace of mind.
Ensure that when calamity strikes you won’t reach out to your investment but rather rely on insurance company to pay the bills. Your investment in the Stock Market is for your retirement and good life ahead. 6% invested it with the Insurance company with the best coverage you can ever had – Medical, Critical Illnesses, Emergency funds and etc.
Number 6: Regular monthly investment
Ensure that each month you keep investing and never stop doing that. Investing on a regular basis rather than trying to time a lump sum investment can help you become a more disciplined investor. You’re forced to invest regardless of whether the price is high or low. This takes some of the emotion out of investing and avoids any delays in putting your money to work.
Remember habit is something that needs practice. I believe every millionaires that I know are disciplined in their monthly regular earnings. Start yours today.
Number 7: Give
Giving also supports the development of commitment and dedication to their uniqueness and purpose. Having a strong sense of life purpose is an important dimension of life, providing people with a sense of vitality, motivation and resilience — and helping to contribute to better health overall.
Only those who have clear mind gives; to receive something big you must first learn to give. If you want money and if you want to be rich – start learning to give generously.
FINWAZE TEAM – MANG MATEO – FOLLOW FACEBOOK