The necessary rules of investing.

[Jubilee58]

Investing is wide and very complex, therefore requires deligence to understand it and make your investment decision wisely.
Below are some of the rules of investing.

While investing in any asset, ensure to set a clear goal. Ask yourself a question and know what you are investing for. Are you investing for your retirement? or you are investing to own a home? When you know your goal, you can determine your investment plan.

Invest for long term purpose: while investing, ensure investing for a long term purpose, irrespective of the short time ripples or fluctuation in the market do not make impulsive decision.

Diversify your portfolio: While investing, ensure you don't put all you money in one asset. Ensure to diversify your investment to different assets like bitcoin, stocks, real estate. This is a way of spreading your risk of investment and avoid putting your hope in one asset.

In investing, considering compound interest is very necessary. Is like a catalyst that speeds up a chemical reaction. Compound interest will help your investment to grow rapidly over time and ensure potential profit.

While investing, it is very important to make your research on the asset you want to invest. Do not rely on hype or friends to influence your investment decision.

While investing, it is necessary to consider tax rate. Ensure you avoid heavy tax rate on your investment, as heavy tax rate can become a hindrance to a successful business or investment.

Ensure to monitor your investment portfolio and make amend where necessary. Check your investment to know if it is growing or not and rebalance it where necessary.

Knowing the right asset to invest can be quite challenging, but when you use the right strategy, the probability of succeeding is there.

Which investment strategy do you use and why?

Your opinions are welcomed here.

[Agbamoni]

You highlight things that must be done by an aspiring investor before thinking of starting their investment. After reading through, I think you have omitted something very important here, which is a sustainable source of income. You must not be a salary earner, nor receive pay check to pay check. But it must be sustainable for you to reach your investment goals. Another thing I feel was not talked about is setting aside an emergency fund to avoid tampering with your portfolio. We live in a country that is very difficult to stay true to our investment, but with emergency funds, we can conquer any unexpected event while our portfolio still remains. I'll stop here for now.

[Zigabel]

One point i will not fail to mention that i have always mentioned too often is before investing, make sure to have a source of income already so your investment is like a residual income, part of the money you earned or gifts and royalties of any sort should be what you throw into investment to avoid premature harvest and not getting the most of profits form your investment. a good number of newbie investors makes this mistake and you see them falling off form the investment within a short period of time because they couldn't sustain it for the longest of time any further.

All of the points you made OP are really true of an investment and will get an investor the best from their investments if done right and applying most of the mentioned. another thing again i will love to mention lastly on this is the security of your investment, be it crypto, Real Estate, shares or whatever forms of investment, the all have a form of security you will need to take seriously so you don't loose your asset, make sure to know about these security measures and guide your assets as much as possible so as not to let in a third party access to your investments and risk the chances of loosing it.

[Nathrixxx]

While investing in any asset, ensure to set a clear goal. Ask yourself a question and know what you are investing for. Are you investing for your retirement? or you are investing to own a home? When you know your goal, you can determine your investment plan.

Before anything, we ha e to create time for designing the purpose of what we are aiming to do, we can't invest without having time on what is needed to be in place, such could be on defining the purpose for our investment, the duration, the cost for it, risk on it and the time frame it may cost us to be profitable with it, investment is not what we can just do like that, it have to come with adequate planning that will make the whole execution process fair for us all.

[Alvin_talk]

Investment exist in many forms, it could be buying shares from a company that has potential of continues growth, investing in crypto, buying assets that appreciates over time such as Land, or by investing in brand or company you founded yourself. All could be profitable and rewarding depending on the goals and plans you lay down.

Earlier this year I had about 2 million naira spare cash so I decided to invest it, then I wasn't so decisive about the kind of business I wanted to invest in. So what happened is that I had a friend who was a bet agent here in Nigeria and I felt he was already successful in that field because he owned two betting shops. I consulted him to introduce me to the business of which he did but the problem was that I didn't plan properly for the business, I bought an already existing agent shop for same 2 million I had  hoping to get results immediately but the reverse was the case. I lost miserably in all ramifications, why? Because I did not plan for emergencies, I forgot I had to build trust and within that period I will be spending money on logistics and other things the business needs in order to thrive.

Just to wrap this up, I ended up loosing everything because I had no backup finance to sustain the business. This have taught me that while investing you should consider all possible disaster that may hinder your investment from growing or that could result to total failure. Investment is risky, so only taking calculated risk is allowed else you will forever regret investing your fortune in one.

[Merit.s]

Investing needs commitment and long term mindset. Bitcoin investment is something that you need to be able to take care of your basic needs before you can invest. You need a discretionary income to invest in bitcoin for longevity.

If you have a stable income and gate no discretionary income, you are not in the position to invest in bitcoin. Diversification is good when you do it at the right time on an asset you are more knowledgeable on.

[Mhizlove]

In my opinion, investing is something that needs patience, knowledge and a very structured plan. Because knowing why you invest, will help you make a better decision when investing and also reduce fear when the Market is up .
long term outlook is very important, because the ups and downs are normal.

Diversifying your money into different assets help in reducing risk, while your interests will quietly grow your money with time, regular monitoring will help keep you in track and also help you stay safe.

For me I will prefer a long term and a diversify investing pattern because it's balance and much more reliable.

[Makus]

Investing is wide and very complex, therefore requires deligence to understand it and make your investment decision wisely.
Below are some of the rules of investing.

While investing in any asset, ensure to set a clear goal. Ask yourself a question and know what you are investing for. Are you investing for your retirement? or you are investing to own a home? When you know your goal, you can determine your investment plan.

Invest for long term purpose: while investing, ensure investing for a long term purpose, irrespective of the short time ripples or fluctuation in the market do not make impulsive decision.

Diversify your portfolio: While investing, ensure you don't put all you money in one asset. Ensure to diversify your investment to different assets like bitcoin, stocks, real estate. This is a way of spreading your risk of investment and avoid putting your hope in one asset.

In investing, considering compound interest is very necessary. Is like a catalyst that speeds up a chemical reaction. Compound interest will help your investment to grow rapidly over time and ensure potential profit.

While investing, it is very important to make your research on the asset you want to invest. Do not rely on hype or friends to influence your investment decision.

While investing, it is necessary to consider tax rate. Ensure you avoid heavy tax rate on your investment, as heavy tax rate can become a hindrance to a successful business or investment.

Ensure to monitor your investment portfolio and make amend where necessary. Check your investment to know if it is growing or not and rebalance it where necessary.

Knowing the right asset to invest can be quite challenging, but when you use the right strategy, the probability of succeeding is there.

Which investment strategy do you use and why?

Your opinions are welcomed here.

Good points but before you think of starting up an investment you must already have something you do to get money, this has always been a lot of people's mistakes, they start up a crypto investment that's supposed to be for a long term and take out part of what they have already invested to probably solve a financial situation or problem that they intend on solving. diversification like you mentioned is also very important because if you fix all your investment on a particular asset it can be a very risky thing to do