In our previous post, we highlighted ideas for short term risk free investments which we believe you found to be very useful. We felt it prudent to follow up with tips on how to double your investment.
We know that it is always an investor’s dream to at least double their money in an investment. This is a dream that many investors don’t get to achieve for one reason or the other. However, things will change today!
We take a look at 4 important tips on how to double your investment.
#1 You have to be willing to earn it slowly
Seasoned investors in the finance sector know that nothing good comes quick. It is advisable to diversify your investment portfolio putting your money in a number of non-speculative ventures such as stocks in a blue chip company and treasury bills. This investment will obviously not double within a year but in the long run, it will get there.
#2 Learn to be an opportunist
There is a tendency by many investors to panic-sell their stock at the slightest feeling that a stock they have invested in will plummet. This may actually be the best time for you to invest and increase your opportunity to double your investment. Generally, companies go through a financial slump but as long as there are signs this company will recover then you better hold on to your stock and even increase them.
#3 Go for the safe options
There is always a faster way to get to your destination but it is always dangerous. In the same breath, there is a much slower way to get there and it is always safer. Investments pretty much work the same way. You need to consider investing in safer bets such as zero-couponbonds. In as much as they may take time to double, you are guaranteed your investment will eventually get there.
#4 Learn to be speculative
This is where we say if you want to play with the sharks then you have no option other than learn how to swim, and swim well. At times, the only available way to double your money fast is through taking a risk. Be speculative, go for the bubbles, make your money fast and get out. Be sure to do sufficient homework because there is a very high probability of losing your money.
All in all, it is important to know that the best things come to those who wait and that is why it is said that patience is a virtue. Never be in a rush to double your investment because you could equally lose it all.
Take your time do your due diligence and always take the safer options.
We welcome your feedback on this article.
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