Investing: Safe Path to Security or Dangerous Road to Debt? 6 Tips to Increase Market Odds
When youâ€™re first making the decision of whether to invest your money in the stock market, itâ€™s always a good idea to weigh the possible risks and rewards. If you do your homework and are a conscious investor, though, you can tip the scale in your favor.
While you may feel like youâ€™re in over your head if youâ€™re embarking on your first investments, know that you have one major thing in your favor: no one cares more about your money than you do. That alone should serve as motivation for you to take the necessary steps to become an informed, knowledgeable and successful investor.
Ben Stein, the actor you may remember from shows like Saved By the Bell and Win Ben Steinâ€™s Money, offers some helpful tips on how to Keep Your Cool in a Shaky Market. His article on Yahoo lists the following tips to help investors, or those looking to invest, make rational decisions:
1. Donâ€™t panic.
2. Keep plenty of cash on hand at all times.
3. Stocks donâ€™t always fall for a good reason.
4. Put not your trust in princes.
6. The long-term direction of the market is up.
Read Ben Steinâ€™s article for more detail about each of these tips. For those of you that already invest, Iâ€™d like to hear what tricks have worked for you. How do you go about making potentially difficult decisions when it comes to the stock market? And what tips do you have for others?