7 key investing habits to help you attain financial freedom
Investing is one of the most important steps to obtain financial freedom. Having great investment skills can help you quicken your pace to financial freedom so you can retire early.
Since not everyone can have the investing skills of Warren Buffett (who is often described as the father of investing) you can still learn and uplevel some skills to help you invest safely.
Some habits to help you master investing and get it right with your money.
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7 key investing habits
1. Patience
Patience is a serious virtue he will need throughout your investment journey. patience is not inbuilt, it is a habit that can be developed, nurtured and mastered.
Resisting the urge to sell during downturns or highs of bull markets are the hallmark of great investors or key investing habits of great investors.
There’s always that long period where nothing is happening in the stock market and then all of a sudden, everything picks up big time.
The key is to hold on for the long term.
2. Consistency
Keeping a consistent habit during your investment period can go a long way in helping you master investments and finally your financial freedom.
you should endeavour to invest affordable amounts consistently each week month quarterly or yearly.
This method is sometimes called “Dollar Cost Averaging” and it smooths out the price you buy at, avoiding the timing of the market.
Since life can throw up surprises at any time, having an emergency fund is a good option.
3. Focus
As a successful investor, you need to master focus. during your investment years, there will be lots of market noise and commentators trying to predict the market and scaling your fears all you have to do is focus on your long-term plan
build up barriers around you to prevent distractions.
stay away from tender hearts and small minds who will push you off balance and you will finally lose compounding benefits.
4. Understanding
Blindly investing in stocks just by mere referrals or names is not at all a wise idea.
Before you invest in the money market, research everything thoroughly. You can start your investment with new products with one foot on the ground while slowly balancing your second foot.
5. Be emotionally strong
You need to have an emotionally strong habit to be able to invest with alarming returns.
You need a deep heart to be able to focus amidst all the noise and chaos with a dwindling market.
If you’re not careful, people will throw you off-balance with their own fears and at the end of the day, you lose.
6. Self-education
A successful investor knows the importance of self education.
their investment tips you need not wait to be physically taught but you have to go deep and give yourself a lasting education.
These days, with the internet, “everything is easy”
There are dozens of books to read, podcasts to listen to and YouTube to watch to help you master every aspect of investment that you find shallow and ungrasping.
7. Compounding
You need lots of time to allow your Investments compound. The key to investment is not to interrupt it and give it time. Time in the market beats market timing. With a $100k initial investment at 8% per annum over 30 years…you are already a millionaire.
Only time can make this happen. These are key investing habits to help you attain financial freedom.
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