Investing for Dummies, 4th UK Edition

Chapter 22

Ten Helpful Hints for You

In This Chapter

Achieving your goals

Protecting the essentials

Working out your timescale

Going to sleep happily

When it comes to investing, you won’t be 100 per cent right in what you do even if you read and inwardly digest every word of this book, or even dozens more volumes as well. But if you figure out nothing else about investment, the key lesson to remember (and here you can score maximum marks) is that it’s your money, your needs (and the needs of those who depend on you) and your life that count. Losing your hard-earned savings is, sadly, much easier to do than growing them. So stop everything you’re doing and don’t invest a penny until you’ve read this chapter.

Define Where You Want to Be

Really basic questions here: what do you want from your money? Who do you want to benefit? And can you afford to lose anything? Investing isn’t a game like rugby or bridge where you hope to score more than your opponents.

Always know what you want and where you’re going. Don’t be afraid to say that your aspirations are modest. And don’t be nervous ...