4 Ways To Invest To Increase Your Personal Wealth

Wealth is never an accident. Even if you happen to inherit it, you still need to manage and grow it.  Some things that wealthy people do to keep their wealth is creating a budget, regulate their spending, and set financial goals.  There are key things that wealthy people do to increase their steps.  One practical step is to learn income-generating skills.  Also, network with like minded-people.  Finally, they take controllable risks when starting a new business venture. However, while managing money and increasing cash flow makes a difference to wealth building, what really accelerates things are investments. 

So, based on the wealth habits of wealthy people, if you would like to increase your wealth, you need to learn how to manage your money well, how to initiate income-generating ventures, and how to take full advantage of your surplus income by investing it.

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Professional Investors Weigh In On Investing in 2018

Investors have been bullish about forecasts for the coming year. The next year will most likely be quite eventful for the financial industry. The Federal Reserve recently made announcements that businesses should expect multiple interest rate hikes in 2018. Most financiers expect the short-term rates to rise somewhat, but nothing more serious than that. What are reasons for the pending hikes?  These include a strong economy and a low unemployment rate.  Both of these lead to a promising investment environment for the next year.

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Do You Believe These Money Myths?

There are a lot of different things you’ll read when it comes to your money.  The personal finance world has lots of people with many opinions.  I’m one of them!  But with so much out there, it can often get confusing.  What do you believe?  What’s true and what’s a suggestion?  I don’t have all the answers.  But there are a few money myths that I’ve seen come up more than a few times.

#1: Always Pay The Higher Interest Loan First

The higher the interest rate means that less of your payment goes to your principal.  This is true.  So, you should always pay the highest interest loan first, right?

Not always.

I think you have some flexibility here.  If you have a loan with a low balance, maybe consider paying that off first.  It will free up some cash flow.  Plus, paying off a loan will give you a ‘win’ on your scorecard.  Those can be very important and might be worth a few bucks in higher interest in the short term.

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Being a Better Long-term Investor

We tend to bring our biases everywhere and we interpret information according to these biases. It is human nature and often hard to escape. We tend to be heavily influenced by recent and previous events or trends.  In order to become a better long-term investor, there are some things to know.

Information and News

Every day we are bombarded by new information and investment news, which we use to make decisions. This should be a taxing process, but our brains make it easier by using mental shortcuts that help us make a quick decision without the need for lengthy analysis. These mental strategies are known as heuristics. Heuristics may help us save time, but may lead to errors in judgment. There are many behavioral biases and some of them should be all too familiar: Biases that affect our decision-making processes include anchoring (relying heavily on one piece of information), over-confidence, fear, confirmation bias (only searching for information supporting your belief), over-extrapolation and greed, to name but a few.

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Smart Single-Family Rental Investing

Opinions often vary regarding the advantages of investing in single-family homes (SFHs) over multi-family complexes (MFCs). Some feel the short-term potential of MFCs surpass that of SFHs. While others cite the long-term potential of the SFH as being a preferable trait. The reality is—of course—it depends.

What are your long-term goals? How much is your available capital? What is your overall tolerance for drama? Depending upon your answers to those questions, smart single-family rental investing in a city can indeed be preferable to multi-family rental investing when you take the following factors into consideration:

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How To Test Your Trading Strategy With An Online CFD Simulator

With its incredible increase in popularity, online trading has become one of most marketable and accessible ways of investing in today’s internet run world. Online trading is an effective and relatively fast way of investing money in a diverse variety of stocks.  With an array of trading platforms and software so readily available, there really many reasons to consider online trading.

Before You Invest Your Money, Invest In Learning

Even though the internet is awash with how-to articles – trading is not as easy as it may appear. There is skill and strategy involved in trading.   In order to reap the rewards of your investments you must first learn and understand.

Learning the proverbial ropes of trading is the essential first step for any would be trader. Knowing and understanding the markets is critical.  Knowing how to make CFD trading work for you takes time and experience and perhaps even a few losses. While research is key, it’s experience that will truly provide the understanding of what CFD trading is all about.

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