Good Investment Opportunities
Good investment opportunities vary as much as investors do and, rightly so, no two are the same. The days of finding safety in a mutual fund or doing what our coworkers and colleagues are doing may be over. I wanted to share some of the best advice I’ve received over the years on choosing good investment opportunities. My thinking has changed dramatically when it comes to investing, and I don’t claim to be any more than a novice. I’m also fully aware that many people who actually have extensive portfolios of paper investment are no further along when it comes to picking good investments or sorting out good opportunities from bad ones.
Everyones’ story is different, here is mine.
Initially, in my teens investing was a complex,dry, and unreachable undertaking for me and I came to that conclusion one morning while watching someone read through the part of the paper that just had numbers, you know, the little numbers. While the gentleman looked important as he scanned the paper, I just never saw myself as being that guy. And I’m not that guy, nor do I have to be. At that point and for some time afterward I forgot about investing and went about my life. I went to college, I dropped out and got a job within a trade union. I made over $32,ooo dollars during the year I turned 20, which was back in 1997 I believe.
That money went somewhere, though I couldn’t account for a penny of it, I can assure you it’s gone. Where did it go? I learned it went to where all the money goes that I don’t have a plan for, I call it “It Doesn’t Matter” land. So this is the first advice I can give. Advice that I am absolutely certain of and have experiential knowledge:
If you don’t tell you money where to go, by default, it goes to “It Doesn’t Matter Land”
Setting aside a portion of your income for investment opportunities is my first suggestions for several reasons that are rather apparent and practical. The real reason though is that I’ve found the simple fact of starting a nest egg that’s ear-marked for investing is on of the best ways to attract or even spot good investment opportunities. The actual money you save in your fund will shape the opportunities you will begin to recognize, opportunities that have always been there but have gone unnoticed.
Good Investment Opportunity and Advice
Another fundamental idea to taking a novice and humble approach such as this is the fact that you will be discipline to take advantage of investment opportunities you can actually afford. A good investment opportunities’ affordability has to do with both cash on hand and the risk involved. The discipline and thought required to begin to accrue an investment fund is a fundamental key to making smart investments. So feel “smart” about starting where your at.
A few years back I asked a mentor what he thought was a good investment opportunity at the time. I asked what he thought of buying gold. His response to me brought me much clarity and confidence. It validated something that was already inside me, but I was unaware of. His response was
” The one thing I can tell you about investing is this: Stick with what you know, and if you’re pulled in a certain direction, know about the industry before you invest your time or money. Not doing this earned me the right to work 10 years longer than I otherwise would have had to”
How’s that for to the point of clarity? That is as clear as it gets. We don’t know what we don’t know. Maybe your friend or a family member knows about an investment opportunity, but you don’t. Don’t follow blindly because of someone elses’ assumed knowledge. Learn for yourself. You can learn from others but don’t be a follower when it comes to choosing what you will invest in. It isn’t smart.
We all hear how powerful it is when we start investing young. I’m not young anymore, maybe you are? If you arent planning on investing money in the next year or two, I suggest at least investing some time to learn about investing. As I continue to learn about good investing opportunities and gain more experience I’ll share what I’ve learned with you and I invite you to share your investing ideas at our forum.
