Set Clear Goals: Before making any investment, define your financial goals. Clear goals will help you choose investments that align with your objectives and time horizon.
Diversification: The age-old adage “Don’t put all your eggs in one basket” holds true in investing. Diversifying your portfolio across different asset classes, such as stocks, bonds, and real estate, can help mitigate risk and enhance potential returns.
Risk Tolerance: Understand your risk tolerance – how comfortable you are with fluctuations in your investment’s value. This will guide you in selecting investments that match your risk appetite and prevent emotional decisions during market volatility.