12 Things Worth Considering Before Saying ‘Yes Or No’ To Any Financial Investment
It’s true that the first stage of wealth is knowledge investment. But what next do you have to consider after you’ve gained the knowledge, and you have the money? what next is how you can invest wisely. Like a business coach Dr.Jay once said to me, he said; ” Real wealth is investing in one thing that brings other achievement. knowing the action to take that, generate wealth.” A good investment is creating a system that regenerate other income and continuous in flow. When we want to invest there are some settings things worth considering before saying ‘Yes or No’ to any financial Investment.
Thus, this days everyone has consider to go green in the sense of investing in what would double their income into to some percentage. Basically, for an investment to work for me means I am looking for return that would double my money in 2 to 3 years’ time. But before you invest in whatever business, or that financial scheme, you have to look into some of the rules which guide such financial scheme. I learnt a method not long ago simply using the interest to find how long it would take to double my money. For example, if the interest rate on a particular investment is 6 percent, then it will take me 12 years (72 ÷ 6 = 12) to double my money. That is considered too long to afford putting my funds.
If you want to know the interest rate to look for, divide 72 by the number of years and prepare to wait. 72 ÷ 5 = 14.4%. For me investment of such won’t double your money, most especially if you consider early return. So, any investment that looks like it won’t double my money in 3 years, I pass on or, if it makes financial sense to get out, I will let go. So, you need to let go when:
1. When you check that it doesn’t covers what you want, let it go.
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2. When you feel it is not right.
3. The market has taken a downturn.
4. When you read something that makes you curious or suspicious of a particular investment.
5. The investment hasn’t been doing well for a while and is sluggish.
6. You have lost interest in a particular investment and simply can’t be bothered any more.
7. You have changed emotionally or ideologically and need to move on – perhaps you only invested green and now want mainstream or vice versa.
8. When an investment is not fashionable any more.
9. You need to spread your portfolio around to minimize losses in a recession or down market.
10. You bought blind and how have more information and you can see your investment getting burnt.
11. When there are hidden clauses that will twist the basic meaning of the agreement.
12. When it sounds too good to be true.