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As an investor, there are things that matters if you ever want to come out with a success story. With these three simple strategies, you will increase your income as an investor.
As an investor when you invest for the long term, you will experience a lot of market volatility. The bear and bull of the market results in drop and growth in value. Being positioned in a good company with sound fundamentals for a long time will surely yield a positive result. Being patient with your investment means that once you have selected the asset to invest in, you should not be bothered by short-term market fluctuations but stay focused on the long view. The idea here is to select worthy assets at a reasonably good price. Trying to time the market will cause you more harm than good, it can cause heavy loss to your money. Instead do not panic but buy, hold and watch the investment over the long term to yield its returns.
For example, those that bought UCAP stock for N1.29 and held it for a long will be smiling now because it's closed at N9.
It’s about setting seemingly impossible standards and then surpassing them.It's about investing regularly and non-stop even amid market volatility. As you buy consistently in this volatile period, you take advantage to increase the quantity you have at a low price. It's a wise strategy that can allow you to live more boldly in retirement. As an investor, the key to successful investing is consistency. This is the way to build wealth over time through investments, and it’s relatively easy to start. Choose an amount of money that you can invest consistently, each month. Then you need to make sure that you invest a portion of any increase that you get in your income or any reduction you have in obligations. Regularly invest, and you might be surprised at how your wealth grows over time. Your ability to look past current events and remain focused is what leads to better results.To be consistent over time you can use naira cost averaging strategy where you use a certain amount monthly to invest consistently over time no matter how volatile the market is so that it compounds and create wealth. For example, you invest N20,000 monthly and consistently for a long time till it compounds to generates millions of naira.
As an investor, you must be ready to persevere no matter how tempting or juicy the market is because the market will correct itself for a good gain. The only way to overcome the market emotion is persevering with a long term strategy in place. Being able to persevere is to never lose focus but avoid all forms of distractions within that period and stay the course till your strategy pays off within that period. No one gets to any height in life without persevering. As you persevere through the ups and downs of the market, use that opportunity to build and develop yourself well.
A couple in the early '80s bought into Warren Buffet company ( Berkshire Hathway) with their savings of $500,000. They persevered in the market volatility, economic collapse and many more. In the '90s their shares have grown to $50m just by persevering
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These simple investing strategy can help you become a millionaire, multi-millionaire by keeping and following these simple principles to the end.
Image Credit: Google
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