Investment is one key factor that guarantees financial freedom. Investment is a way to make your money work for you without having to do so much.
If you invest in the right things you'll be surprised how soon you'll meet the goals you set for yourself. I often say to people saving is good but investment is better.
When it comes to investment I like to be very thorough. I indulge in very risky ones once in a while - the greater the risk the more the returns right. At other times I do my due diligence making sure I'm not stepping into a sinking sand.
For my investment strategy the first thing I do is set a goal. Investment can either be long term or short term. Having a goal helps me determine if I'll get into long term or short term investment. Knowing the particular thing to invest in has a lot to do with the goal you intend to achieve.
When you've identified if it's going to be long or short term then you know the funds to put into investment. You cannot use a fund you'll need anytime soon for anything long term, that is basically shooting yourself in the leg because you may end up running at a loss which isn't the purpose for investment.
Like I said before, I indulge in some risky investments sometimes but I don't just do them blindly. First I determine how much I am willing to lose in case everything goes south. I put the funds I know I'm willing to lose in risky investments and those I can't bear to lose I put them in more stable investments.
Generally for my strategies;
- Have a goal I hope to achieve
- Determine the particular investment that will help in achieving that goal.
- Use the right funds for investment
- The funds to be used are determined by the term of the investment.
- Analyse my risk capacity before investing.
- Invest
Right now I am investing in stable coins like HBD and USDT. I plan to increase my portfolio with time and then I have the not so stable ones, some of them include, Tron, Theta, Tfuel.
I do stable coins because anything could go wrong with the unstable coin, the unstable ones are the risky investments - whatever happens.
I am not a fashionista but fashion intrigues me and I want to be able to invest in building a fashion line one of these days. Right now I'm starting small around the crochet line, I could expand with time to include other fashion items.
Good Investment is a good way to set yourself up for life, on the other hand bad investment can make you question all your life choices, so the ball is in your court. At least know the basics before you jump into any form of investment.
I hope to be in a better financial position in the next few years. This year has been great and I have taken major leaps. My financial strategies are simple but they work for me. I hope you learnt a thing or two
Thanks for stopping by❤️