So what is the best money investing advice available today? First of all, you need to realize that when it comes to your finances, you are in control. Do not blame someone else for any mishap.
By far, the most important thing when it comes to investing money are the numbers. Unfortunately, the vast majority of investors ignore this little detail when they deposit their money.
This happens in all types of investments, be it real estate, foreign exchange, stocks, etc. Instead of investing in something because the numbers are great and it has a good chance of making a profit, most people just invest because some investment expert told them to.
They are giving away power to someone else in this circumstance instead of taking control of their investments. Here is an example:
Usually, when some stock market expert gives money investing advice that a stock is about to go up (or already is), thousands of investors rush to invest in that stock, and for a while the stock skyrockets. as everyone jumps on the bandwagon. Unfortunately, 99% of those investors simply invest because the stock price is going up; they never bother to check the financial records of the company they are investing in.
While the stock may seem like a good investment for a while due to the bandwagon effect that drives up the price, the market always values a stock over the long term based on its profitability. Therefore, if there is no profit on the part of the company in question, sooner or later the market will value the price based on its real profit.
The same happens in the real estate sector. Many times, investors will simply put their money into a property because a friend told them it was going to be “huge” and that they were going to make money on it. Of course, they never bothered to check the numbers and make sure the investment was sound.
So no matter what investment field you plan to start in, the best investment advice anyone could give you is that there is simply no substitute for being financially educated. Yes, it takes some work and dedication, but today there is no other way to get rich.