You may be someone who owns a business or who derives their income from several sources thanks to your entrepreneurial skills, and this post relates to another means of increasing your wealth, investing in shares. Share investment is one of the core means of wealth creation that financial planners regularly plan for and manage for their clients, and the beauty of share investing is that entry to it is relatively easy.
Unlike property investment where you need a huge level of capital or need to be prepared to borrow hundreds of thousands of dollars, you can get started with share investment with as little as $1,000. Obviously, at that level, you are not going to earn a huge return, but it is a great way to dip your toe in the water and to see if you like share investing.
If you do, then and plan to significantly increase your level of investment, then we again stress it is important that you discuss this with Perth financial planners. Trying to trade shares without any advice or support is a recipe for disaster. In addition to speaking to your financial planner, there are several core principles that you must follow. These ensure that you buy and sell shares sensibly and that you reduce your risk of losses.
Below we have highlighted five tips as these are the most important ones to follow and thus stay true to share investing’s core principles.