Ways To Become A Better Investor Today
So, you want to be a better investor? Or perhaps, you want to know how to get better investment returns? There are two main parts to being a better investor: Investment Returns and Investor Behavior. Of these two, you can only control one of the two—your behavior.
1.Your investments don't need to be complicated.
If you have 50 investment accounts all over the place, you are just making things harder on yourself. Look for an independent custodian like Adroit Limited, where you can easily hold all your investments in one place.
2.Your portfolio should change when your life changes.
For many investors, big changes to your investment strategy should be made when your life situation has changed. For example, you invested for a house down payment. Once you purchase that home, any remaining money in the account can be repurposed, which will likely lead to a new investment allocation.
3.Luck and Investing skill are not the same things.
I'm going to assume you have heard the phrase, "Even a broken clock is right twice per day"? When the market has a great run like the past few years, it's easy to think you are a rock star investor. Or perhaps, you have some inherent skill for picking great investments. Over the decades of helping people with their investing, I've found that the bigger the investor's ego, the bigger the crash hits them when the market eventually does correct.