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How to be a successful investor

by , 11 March 2015

Being a successful investor means achieving your realistic investment goals. This may include having enough wealth built up in the stock market by the time you reach retirement to fund your lifestyle.

There are two major things that can help you achieve these goals.

So what are they?

Read on to find out…


Two factors determining your investment success


There are two main factors that will determine how successful you are as an investor:

  • How much you pay in fees; and
  • How well you stick to your investment strategy.

Of course, there are other factors that have a bearing on your success, such as how you diversify your investments. For instance, you should spread your investments across shares, bonds, gold, property and cash.


The negative impact of fees on your investment success


Fees can have a big effect on the performance of your portfolio over the long-term. If you have a very successful strategy, paying just an extra 1% in fees can dent your performance.

That’s why you need to ensure you’re getting the best deal you can when it comes to your stock broker and the funds you invest in.


Stick with your investment strategy


With investing, it often pays off to be consistent and adhere to your investment strategy. And this means not interfering too much, John Stepek in Money Morning UK.

For example, trading too much means you generate a lot in fees and costs. These fees and costs eat into your returns.

And investors have a bad habit of buying and selling shares at the wrong time. So as well as increasing your transaction costs, you may end up selling low and buying high.

Bottom line: With the majority of your portfolio, you should make sure you spread your investments and you invest the cheapest way you can. Also ensure you don’t deviate too far from your strategy.

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How to be a successful investor
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