The Top 6 Simple Tips for Your Financial Success, what would it be worth to you if you had financial success? It doesn’t have to be hard or stressful.
Written by Bonnie Gortler
There are many different ways you can have financial success. One way is investing your money with a specific plan of action. You don’t have to be a mathematical genius or a stock market guru to be prosperous investing. Opportunities arise all the time. When you have a good plan that guides you, consistent habits that you do, combined with a good investment trading psychology, you will have more confidence you can accumulate wealth. Simple changes in what you do now can make a big difference.
Increase Your Odds Of More Successful Investing Today.
One way of growing your wealth is investing in the stock market. Growing wealth investing takes discipline, a winning mindset, and managing your risk. Controlling loss is a key to being a successful investor. Small losses are the best losses. Since there are days when there are wide swings in stock prices it’s best to have guidelines that you are comfortable following. Increase your odds of success by managing your risk by setting a stop loss. When your investment reaches a certain price, you will sell to protect your capital to avoid a large loss on your investment.
When your investment is profitable, it’s easy to feel good about and confident in the decisions that you make. When you are losing money, your emotions many times get in the way and you make the wrong decisions, ones that you normally wouldn’t make if you were not caught up in the moment. If you are thinking clearly and in control of your emotions, you are not going to fall in this trap. Sometimes this is hard to do, but it’s possible. Take the time to develop a written investment plan that includes an exit strategy. This way you are prepared in case when the market moves fast and your investment goes against you thereby avoiding reacting in a manner that may prove harmful. Make it a policy not to make investing decisions based on emotions. Fear and greed can lead to big losses that could take you many months to make back.
Increase the odds of financial success and allow for even more money in your pocket by using these 6 simple tips as outlined below.
The Top 6 Simple Tips for Your Financial Success
#1. Simplify your finances. Reduce the number of accounts you have. Consolidate your bank accounts and retirement accounts. Simplifying your banking, saves you time. If you have several retirement accounts (for example 401k plans) due to having previous jobs, speak to your accountant or investment advisor if you can roll those plans into an IRA account. Not only will this reduce paperwork, but it will also eliminate account fees, and make it much easier to manage your retirement assets.
#2. Reduce your credit card debt and how many you use. If you are paying a high interest rate each month, it’s a big challenge to overcome. Call your credit company, speak to a supervisor and see if they will lower your rate. If you have many cards because of low interest rate promotions over the years, keep them open for credit scoring purposes, but use one card that has the best benefits. It’s much simpler to manage what you are spending when you have one to pay and track.
#3.Invest in your future. Start as early as you can to invest. Your investments will grow significantly over time. A twenty-dollar bill saved today will continue to grow for your future. Invest a portion of income to start on your journey to wealth.
Enjoy your journey of life. Be happy! Do what is good for your health and happiness on your journey to wealth and well-being.
#4 Don’t invest money that is used for day-to-day living expenses. This will cause unnecessary excess stress and lead to poor decision making.
#5 Follow an investment style that makes you feel comfortable and confident. Don’t place too much money in any single investment in case something unexpected happens that could wipe out your investment portfolio.
#6 You want to be able enjoy life, right? You can instantly add more peace and happiness to your life by making the decision today that you are going to simplify your financial life. Ask yourself what changes can you do now that will simplify your finances without making a significant change in your lifestyle. The answers may surprise you in how easily they can be incorporated. It’s important not to overspend. When you begin investing in your future you are on the road to making wise investment choices that will help your money to grow and motivate you even more to take advantage of opportunities as they arise with a sense of confidence. A well thought out financial plan will help prepare you for the challenges that are bound to occur in the different stages of your life. Start today creating a plan that will help you to live the lifestyle you desire. Control your destiny, simplify your finances, and enjoy life! Simple changes can lead you in the right direction on your journey toward financial success.
To your health, wealth, and happiness,
The Inspired Wealth & Well–Being Coach
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Bonnie Gortler, the Inspired Wealth & Well-Being Coach, is a successful stock market expert who has been instrumental in managing multi-million-dollar client portfolios within a top-rated investment firm during her over 30-year corporate career. As the author of “Journey to Wealth”, Bonnie has made it her mission to share the importance of risk management and how to enjoy true financial well-being by applying the technical and mental sides of investing. Bonnie has a M.B.A. in Business Administration and is a certified life coach. She is a huge sports fan who believes in healthy eating and has an unyielding passion for fitness. It is through her love of social media, blogging, coaching that she is able to create change in the lives of many and inspire people from around the world. Bonnie is fully committed to your personal growth and development as she shares her winning spirit and powerful techniques with you. Visit BonnieGortler.com to gain tips and insights surrounding investing, healthy eating, personal development and inspiration through her writings on Wealth and Well-Being. Live the healthy, wealthy lifestyle you desire.
The Inspired Wealth & Well Being Coach
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