Brad Reifler is not afraid to go out and help investors by any means he can. What is currently doing is offering tips and advice to those who are ready to start investing some of their money. He wants to offer five solid tips that can hopefully keep a lot of people out of trouble when they start investing. This story was originally featured on Reuters and it caught my eye, seeing as how I’m a stock market junkie myself.
1. Cautiously invest your money, preaches Reifler. Do not throw money at the latest hot fad or the stock that everyone cannot get enough of. You should be focused on putting your money to work in things that are going to produce returns for your portfolio for a long time to come.
2. Know that your money is not safe. There are some investments that may be safer than others, but Reifler emphasizes the fact that all investments contain an element of risk. This means that you should carefully examine what the risks are to your portfolio and know how to manage them.
3. Yes, the stock market is a great place to earn returns, but make sure it is not the only place that you are putting your money to work. Too many people get burned on this. You can do better by spreading your money out among a variety of different markets.
4. Brad Reifler also insists that you should get to know your money manager. The person who is investing your money for you should be someone that you are familiar with. It is just common sense that you do not want to put your money to work with someone that you do not know or do not trust.
5. Make investment objectives. There are always goals that one should be striving for in investing.