When a lot of people think of the word ‘investing’ the 1st thing that pops into their head is ‘it’s too hard’ and ‘I can’t do that, I don’t know how’. The fact is, there are a lot of things you can do to invest your money that are not hard and that you can do without a lot of knowledge about how investing works. Sure you need to be careful with your money but if you follow the tips below you’ll be well on your way to making some great investments in 2012. Yea yea, I know 2012 is almost already over…but it’s never too late to start investing.
1) Don’t rely completely on ‘experts’ to manage your money or your investments. The fact is, many people lost everything because they put blind trust in investment firms that lied to them and stole all their money. The simple fact is that today, with computers and the internet at the ready, you can easily learn about investing yourself (On the website E-Trade, for example) or enroll in an online MBA degree program to get a better understanding of finance in general. If you know a bit more about how things work you’ll be better able to control your own financial destiny.
2) Low risk investments are the key, and that means you should start looking at Bonds again. They showed an overall gain of nearly 8% last year. Don’t make the mistake most do and dump them at the first sign of trouble and you’ll be OK.
3) Don’t listen to all the hype. Track trends on your own, turn off the media hacks that have been more wrong that right in quite a few years and make your own informed decisions.
4) Purchase a rental property. Making a long-term investment in the housing market is an excellent idea right now because home prices are rock bottom as well as mortgage rates. Hold onto it, even if you just break even, until the market turns around and you can make a nice profit.
5) Get rid of that junk and use the money to invest. Anything sitting in your home that isn’t being regularly used (think boats, motorcycles, electronics, gold, even your stamp or coin collection) and sell it, using the profits to invest in something that really works for you.
Now I ask you, do those tasks sound difficult? I didn’t think so. Go get started and watch your portfolio grow in 2012.