BTAFF - What I Wish I Knew Before I Started Investing
2024-07-20 09:46:37 ET
Summary
- Investing is not one-size-fits-all game.
- Each investor has different objectives, time horizon, and risk profile.
- Starting early, contributing regularly, and aiming for realistic returns are key to long-term investment success.
- Losing my initial investment capital, I learned the hard way key lessons on how to approach strategy and maximize my future ROR.
- In this article, I am sharing 5 key takeaways I learned as a self-taught 30-year-old investor.
Investing is not a one-size-fits-all game. Each of us has different objectives, different time horizons, and certainly different risk profiles.
For instance:
- Someone saving money for an eventual house downpayment a few years away will most likely choose a low-risk investment such as a high-yield savings account with up to 5% yield these days.
- Perhaps you are investing to fund college one day for your kids with a 10-year time horizon, choosing low-cost index funds.
- Or you are planning long-term and investing to enjoy a well-deserved retirement 30 years away with a more aggressive growth path.
No matter the objective and time horizon, we all seek the same thing. To preserve our purchasing power in light of inflation and in the better case to compound our wealth....
What I Wish I Knew Before I Started Investing