The first rule of investing is not to lose money, the second rule is don’t forget rule number 1. That’s pretty obvious but hard to make it happen if you are impatient and always sell when you have paper loses.

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1. Define Your Investing Goal and Be realistic
– My goal at first was to make 10k in passive income
– And I didn’t mind waiting 40 years to do it
– But then I asked why? The answer wasn’t as good as I thought it would be, it was just me wanting more money to buy things that I don’t need

Here How you Define it:
– My Goal is to put my Money to Work without taking a lot of risk
– I want to make passive from my investment to eventually cover my cost of living
– I don’t want to spend hours a day doing research

2. Pick your Investment Assets ( the best fit you )
– Now if those are my goals
– Then you have to be honest with what hassets you can invest your money into
– I tried doing individual stocks but they went against my goals
– It took to much work to do it right

Best Product:
– For someone looking not to take a lot of risk
– And not do a lot of work and make it passive
– Is going to be index funds ( I do the s&p 500)

But if your goal is to become the next Warren Buffet:
– Obviously your answer is going to be different and that’s fine too

3. Make Recurring Investments automatic
– You know why when you are a W-2 employee you never have a problem with taxes
– Its because they take taxes before they pay you
– You know why most people don’t have money for investing left over, its because they leave investing for last

Here is something else:
– A lot of people start investing a lot of money all at once, something happens and then they need the money and they have to sell
– My advice is to start small

But here is the advice for this:
– Decide how much money you’ll be investing, I recommend no less than 10% but start at 10% you can always increase this over time
– Set automatic investing on the days you get paid
– And if you cant do that, just send it over the minute you get paid

4. Organize your Finances before investing (emergency Fund and no debt )

5. Be ready to Take advantage of investment opportunities (during bare markets)

6. Think Long Term (yes you just lost 50% of the Value of your Portfolio, but how old are you, how much time can you wait for a recovery)

7. Get Ready for when it’s time to Change the Approach (when you turn 60 or 70, you can’t invest the same way, because the market fluctuations can knock you out)

8. Always Have Insurance (your biggest insurance is not going to be more money, but it’s going to be needing less money) and you do that by being frugal, living in debt free, and trying to pay off a home fast)

9. The Best time is Now (if something is worth doing, it’s worth doing it poorly and figure out the dinks along the way)

10. Have Zero Loyalty (fees are not your friend, companies are not your friends, you want the best performance)

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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