Brad Reifler recently sat down with Reuters to discuss some investing strategies. Now if anyone knows about money and investing it’s Brad. Brad is the Founder and CEO of Forefront Capital. He has been doing this for a very long time.
In this interview that I came across Brad went over some essential tips to making the most out of your money and your investment. Follow me below as I give you a brief summary of some of his points.
1) It’s necessary to take stock of your investments so far. Look at your bank account. Decide if you can invest. Some really want to invest in some stocks or mutual funds. Only problem is that the bank account will not allow us. Opening up a stock or mutual fund requires a certain amount of money. If you don’t have that money, than it makes it more difficult to cover the investment. The bottom line is you need to be able to do it first.
2)According to Brad, you also have to be responsible for your money. You need to be held accountable for your own actions. if you make an investment, than you need to make sure you carry it all the way through.
3)Investing in the stock market as sole means is not a good choice to make. You need to have other options. Take a look at some savings plans in your bank. Look into a mutual fund that is completely separate. Look into some sort of Roth IRA. The point is you need to keep things diversified.
4)Get to know your investor. Develop a relationship with him or her. This is the person who is going to be helping you make those important decisions. If you don’t feel you can trust this person, you need to find someone new.
A Last Thought to Consider
When you begin any kind of investment you need to come up with some goals. The more goals you develop, the more clear your objectives will be. Figure out why you are investing. IS it going to be long-term? is it going to be short-term? It’s best to know this kind of stuff upfront.
Go slowly. See if something works first. Once you find something is working, then you can add more money in. It’s all about trial and error. Sometimes you have to make these mistakes to find the right solution.