Sometimes they happen. We all hear horror stories and I have come across quite a few. Many times people thought these rules did not apply to them and they would be okay. They had a mentality they were above the rules and put their hard earned money into an unwise investment. You trusted someone with your money. You believed the great get-rich quick schemes. Then, you wake up one day and realize the money is gone and this incredible “investment” was all a lie.
You may feel like a failure and never want to deal with investments ever again. Many opt to save their cash in a savings account that will pay less than one percent in interest, which means they are falling behind annual inflation rates. For the year 2014, average annual inflation rate was 1.6 percent.
If you want to be smart and make sure you can retire comfortably, then you need to make sure your money grows at a rate much higher than inflation. Do not work hard all your life and not be able to retire how you want to.
But, how can you trust yourself again?
Today, I am going to give a few tips on how you can learn to trust yourself again and feel confident the next time you make an investment.
Do Your Research
Always, no matter what the circumstances are, do your research on this future investment. Do not blindly give someone money without proper documentation and full understanding of where your money is going. Ask to see accounts, books, receipts, and their current client portfolios. Research until you one hundred percent feel confident about giving your money.
Avoid Talking to Pushy Sales People
Especially when you are talking to someone over the phone, never discuss your finances without reviewing their credentials. Investors and brokers have to get a license to handle people’s money. Also, a sound investment does not need to be pushed. These people are just out to get your money and avoid them at all cost. Many times they do not even know the basic fundamentals of investing and are only contacting you to make a sale.
Understand this takes time
Short-term investments are too risky. If you are looking for advice on that, then this is not the article for you. Anything that sounds too good to be true is most likely that way. I am here to teach people where to put their money and have it grow in the long run.
When it comes to long-term investment, the goal is to compound your money. You do this by putting your money in things like mutual funds, stocks, or offshore accounts where it will continue to grow. Even if you never added more, the money would still grow. That is what you want. However, this takes time. Do not become discouraged if it is not growing at the rate you want in the beginning.
By the time you are ready to retire, you have enough funds to maintain a comfortable lifestyle. Maybe you will even move to Cayman Islands and live the rest of your days in paradise!!
You can live your entire life in fear of investing from a bad past experience. However, there is another choice. You can learn from your mistakes and jump back into the game. Use these unique tips and advice I have given you today to help you trust yourself again when determining where to put your money.
The bottom line:
Do your research
Avoid pushy sales people
Get yourself back in the game
With time, you will see that this past mistake worked out for your good. Why? Because it taught you how to do it right, when a great opportunity came along.
Walt Disney built an imaginative entertainment empire that everyone around the world has fallen in love with. But, in the beginning he was fired from his first job as an animator. This pushed him to build Disneyland and create one of the most beloved Disney movies of all-time “Snow White and the Seven Dwarfs.” Today, the Disney brand is worth over $142.92 billion. Walt did not let this stop him from pushing forward and learning from this experience.
If you are interested in investing your money the right way, contact the number of reputable and trusted offshore banks in the Cayman Islands. They will help you grow your assets to the next level.