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Remember these key aspects to be successful at investing

by , 20 October 2015

Growing your wealth on the stock market is likely to be your primary reason for putting your money to work in shares in the first place.

Yet, many investors find it difficult. They make costly mistakes along the way.

So how can you be more successful at investing?

Read on to find out…


Does experience help you become better at investing?


When you think about making money by investing, you may think about those that have done it well. A prime example is Warren Buffett. Over his life, he’s amassed billions.

Or if you take a wider look at society, older people tend to be the wealthiest. Surely they’ve learned from their experiences and this has made them successful at what they do to grow their wealth?

Well perhaps not. Ben Carlston in AWealthOfCommonSense.com believes that experience has little to do with being good at investing. Those who hold a lot of wealth in the stock markets feel the impact much more than someone who doesn’t.

So experience doesn’t help them. Younger people will feel the effects much less.


How you can be successful at investing


One thing you should bear in mind is that experience doesn’t translate into wisdom. In fact, experience can lead you to make mistakes due to what’s happened in the past.

To succeed at investing, don’t think that you have lots of experience to do well. Instead, being successful at investing comes down to studying, staying humble and practising self-awareness.

The driving force behind many investors is their emotions. This leads to irrational decisions when it comes to their investments, which hurts their long-term returns.

So there you have it. Why you should remember these key aspects to be successful at investing.

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The best ways to grow your wealth today…

When I first started working, everyone told me to invest my first salary. I did just that.

I found a broker and opened an investment account. 15 months later, my investment of R4,500 grew to a measly R4,950. My broker and my family were happy with this level of growth. But I wasn’t.

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Remember these key aspects to be successful at investing
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