Do you want the savings to work and generate additional income? It is quite possible to organize. Just be prepared for the fact that the money will not work on their own, but with your active participation.
The depositor can take the savings to the bank, place a deposit and forget about the money until the expiration of the set period. The investor must monitor the situation on the market, periodically weigh the actual risks and benefits.
Do you have free money – at least 30 thousand dollars?
“I have an amount, without which I can easily live until the next earnings. It is urgent to invest it in something … “, – says the person who decided to manage personal finances with utmost rationality.
The correct train of thought? Yes – on one condition: if this person already has a financial pillow. Each of us needs to have in stock the amount that is enough for six months of normal life. These means are not worth the risk. A deposit is the best option for saving them.
Investing is always fraught with a share of risk, even if in some cases it is minimal. The money of citizens stored in banks is protected by the state deposit insurance system, and the clients of mutual investment funds or, say, insurance companies act on their own responsibility.
Are you ready to learn new things?
Inexperienced investors believe that they are participating in a kind of game. They are wrong. Financial instruments do not function at the whim of Fortune, but according to completely recognizable laws. If you want to be the winner, try to understand how the whole system works.
First, you need to get an idea of the main ways of investing.
Secondly, you will need to familiarize yourself in detail with a tool that seems appropriate to you. Do not limit yourself to articles from the Internet. Pay attention to the books.
Among foreign benefits of this kind, the “Reasonable Investor” by Benjamin Graham is most popular. Of the number of domestic publications, the book “Your Money Must Work,” by Vladimir Savenok, certainly deserves attention. Of course, the list does not end with two items.
The ideal option is to take courses for beginner investors instead of self-learning. They are organized by many brokerage firms.
Do you know how to manage your own emotions?
Although investing is not a game, it stirs up excitement: prices on the exchange often fluctuate, it always seems that a little more, and the moment will be missed … You cannot give in to feelings, otherwise you will have to bite your elbows.
Suppose you read an article and doubted: it takes time, attention – maybe it is better to postpone the venture until better times? Do not rush to give up the good deed.
No one forces you to dive into investing right away. Try to master it gradually, using the services of a competent intermediary – a company engaged in fiduciary management of finances.