Hello! It’s been a while since I last posted. I ended my powder season with a Bang! Literally…
Anyway while we are on the topic of playing safe, one could also apply similar protection financially too. Here are a few examples that come to mind:
1. Plan for the Future
Sometimes it can be hard to picture where you are in 10 years time, but there are a few things which are certain in life, death, taxes, shelter and subsistence to live etc.
I think the process of planning, identifying and preparing for major unavoidable cost in life is a good exercise to undergo. It could protect your family lifestyle.
2. Have a Rainy Day Fund
When the times are good, it isn’t hard to save up an emergency fund over time. It could come in handy when the sun stops shining.
3. Be patient and Learn the Basic
It’s good if you are excited and want to invest right now. But take your time to learn the basic if you want to do it right. One could easily make a quick buck due to luck and one could easily lose it all quickly as well. Investing is one of the fields where I think the process is more important than the result. Having the right process can’t guarantee the result every time, but it could increase your odds of being successful over time.
Depending on where you reside in the world, some of the topics in this Motley Fool 13 Steps to Investing might not be relevant to you, but the general concept would form a good foundation for every new investor.
Don’t forget to check out my own investing guide as well.
This year I am going to discuss about:
- Building your own portfolio
- How to use Options
Until then, see you soon!
P/s I am sharing my investing experience in University of Aberdeen on 28th April. Drop by and say hi. More info could be found on AFBE website.