How to Un-Stress Your Money-Making Strategy

by admin on November 12, 2010

In our age of belligerent capitalism, it is money that makes the world go round. There are no free lunches, and if someone wants to progress in life, he or she must have a considerable cache of funds. This is why for many of us, money-making has become the center that holds our lives together. Unfortunately, these are times of economic uncertainty, where stock market trends shift positions swifter than particles in a Brownian motion. People simply cannot be sure which way their investments will go, whether they will soar or plummet, and this uncertainty is the source of many sleepless nights, unprovoked tantrum, and splitting headache.

Sometimes, people find it hard to live within their means, especially if they are trying to keep up with a social circle of suit-clad friends. So, they want to make more and more money, feeling anxious all the time. It is not rare for people to get so stressed that they inflict upon themselves a heart attack or some other critical disease. Even if they avoid the unthinkable, it is only with their health irrevocably impaired. We need to change the way we make money, or else we might end up physical and emotional wrecks much sooner than we have the chance to spend our fortune. So, here are a few tips to keep in mind as we pursue our strategies to accumulate wealth.

1. First Save, then Invest

The best way to reduce your worries over finances is to save a sizable amount of money before you start making any investments. In this way, you will not only have a safety net in case your endeavors misfire, but you will also be protected should a health condition or some other money-demanding event arise. There is no better medication for good night’s sleep than the knowledge that you have enough resources to meet any unexpected expenses.

3. Research Thoroughly and Plan with Care

To save yourself later troubles, always do a narrow examination of the company or institution where you want to put your money. Check their website and browse through online articles on them, visit forums and ask for opinions from people who have already invested in that company. Do not shy away from calling company representatives and requesting direct answers from them.

Financial advisors recommend that for a healthy investment portfolio, one should spread his money among several companies. So, you also have to plan how much and for how long you are willing to invest in every company in your portfolio. Of course, this would require much efforts and man-hours; so, you may want to consult a professional for advice. If you sit on sizeable funds, you may want to hire a financial planner to keep an eye on how your investments unfold.

4. Do not Be Afraid to Replace Your Advisor

According to a recent article in The Globe and Mail, it can take a person as little as two months to obtain a certificate for financial advisor by completing online courses after college. This means that there are many people out there who purport to be financial advisors, but actually lack a sound academic training and real-life experience. So, if you realize that your financial planner is not up to the task, becomes often uncertain and makes unwise suggestions, do not hesitate to replace him/her with a better advisor. You may have to spend a little bit more on fees, but having a seasoned professional onboard can bring you much money in the course of your investments.

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