There are two sayings I live by
1 – Money is just an idea, people who lack money simply lack ideas.
2 – If you are willing enough, you will always find a way to make something happen
Living by these words has greatly helped me in my investment career. You can plan as much as you want, but expect some roadblocks along the way. To get ahead in life you will need to overcome a few challenges on the way.
Well, now that I got that boring part out of the way, let’s talk about the fun part.
Investing can be very rewarding and quite fun, if you do it right. There are some keys to doing well and they are pretty straight forward.
1) Do your Homework – Learn before you earn
Most individuals get into investing because they hope to make a quick buck with no effort. It is realistic to make a lot of money in investing but some initial effort will be required to get the ball rolling.
Taking on an investment strategy without proper knowledge on what to do is a surefire way to lose all your cash. SO DON’T DO IT.
2) Don’t go after something ONLY based on the amount of money you will make.
It is best to pick an investment based on what you like to do. For example if you are shy, avoid strategies that require you to make face to face contact. If you are more of the think tank type that likes to work behind the scenes, then avoid methods that require an outgoing personality.
On the flip side, you may have a promising future in stocks an real estate if you are good with numbers and data.
Make a list of your strengths and weaknesses, then choose your money-making path wisely. I chose options trading and internet marketing based on what I knew I was good at.
3) Be Open to things that seem novel
At the end of the day, the only thing stopping you is you. There are countless ways to make money. Don’t let people tell you that something cannot be done. If there is a will there is a way, find your will and way to make it happen.
I will bet my monthly earnings (a lot of money) that if you asked all the millionaires if someone at one time told them they would fail, ALL of them would say yes.