No matter whether you have been investing for many years or you have only just got started with this form of money-making, it is always important to better yourself with every year that comes and goes. With that in mind, read on to discover how to become a better investor in 2019.
Improve your risk management skills
The first thing you should work on in 2019 is improving your risk management skills. This is all about protecting yourself from a loss. A good investor is someone that has an exit and an entry strategy. He or she does not invest with their emotions. They will have already determined when they are going to enter and exit the market, and they will be able to stick to this without trying to move the goalposts.
Spread your wings
Let’s say you are into property investment. Why not add land to your portfolio? A lot of people purchase land because they want to have the freedom of having their own property built. They can have something that is entirely suited to their requirements, without being limited to a developer’s specifications. Nevertheless, this is not the only reason to consider investing in land. Land is one of the easiest ways to make a profit. You don’t actually have to do anything. So long as someone else is able to build on the land, you are good to go. You can simply wait until the land has increased in value, and then you can sell it for a profit. A lot of people prefer this type of hands-off investment – they don’t have to deal with burst pipes, leaking roofs, tenant, and all of the other issues that come with owning a property. In addition to this, competition is a lot lower when selling land and land is very inexpensive when buying as a long-term investment. You don’t have to worry about utility bills or mortgage payments.
Take a training course
Last but not least, another method for becoming an investor in 2019 is to take one of the many training courses that are available. However, rather than taking one of these training courses that basically enable you to shadow what someone else is doing, look into a course that is actually going to enhance one of the critical skills needed for better investment. For example, tableau training is something worth considering. This will enable you to handle data better, which we all know is imperative for any type of investor.
So there you have it: some of the different ways you can become a better investor in 2019. If you follow the suggestions that have been presented above, you can be sure that you will have a better chance of maximising your profit and capitalising on good opportunities throughout the year ahead.
How useful was this post?
Click on a star to rate it!