5 Investment Mistakes to Avoid

5 Investment Mistakes to Avoid

April 14, 2020

In life, mistakes are inevitable but when it comes to investment, a costly mistake can mar your life dreams.

When you invest, your money is traded in high-interest money market instruments, bonds and securities amongst others to ensure that it keeps yielding interest for you.

Here are investment mistakes to avoid…

1. Not investing at all

The biggest mistake you’d make in your movement towards actualizing your goals of maybe owning a home, starting a business or going on your dream vacation amongst others; is not investing at all. 

You may also read: 5 Steps to Save for Emergency

2. Waiting to hit a jackpot before investing

You don’t need to have millions before you start investing and reaping returns. Start with a couple of thousands of naira. Explore investment options that you can jump on with the amount you have available and start growing your investment gradually. 

3. Inconsistent investing habit

Your investment can’t grow substantially if you invest today and forget to invest tomorrow. Keep a budget every month and allocate a certain amount to invest within – this act as a reminder to stay consistent with investing towards whatever goals you may have.

4. Impatience

A farmer doesn’t put seeds in the ground in the morning and expect a tree to have grown by evening. This is the same with investing. You need to invest, be patient and allow your investment enough time to grow considerably so as to reap higher returns.

5. No set goal

Always invest with a goal in mind. That keeps your morale up and enables you to stay committed to investing towards achieving those goals.

There you have it. Now that we’ve gotten the mistakes out of the way, it’s time to pull up your sock and start building your wealth steadily but surely.Click here to discover an array of investment opportunities that will help you achieve your aspirations through every stage of life.

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