One thing that many students don’t understand is that they have time by their side. The moment you understand this fact then you should know you are on the right path. If you desire to avoid the vicious cycle that comes with overworking in your early life then you ought to do one thing – INVEST!
How to invest while in college
As a student, you are always focused on books in order to get the necessary skills and get ‘a good job’ in order to live a full life. However, sooner than later you realize that it was not what you envisioned. In some cases, you go back to college to get additional certifications in order to get high pay from your employer in order to make ends meet. Little do you know you are slowly but steadily getting trapped in corporate rat race. Time fly’s by and sooner you’re focusing on your family rather than your personal life. Here are some tips for you to invest while in college;
- Start as soon as you can and if you can save on jobs that you come by then it will be much better for you. In all cases, time favors you and you have nothing to lose in the long run.
- Do a thorough research on companies you desire to invest in and diversify your investment. Remember, smaller fixed investments overtime will give you high returns. You can do this on a monthly basis or quarterly basis based on what you want to achieve.
- Choose a highly reputable brokerage firm that has a proven track record of excellent results. In fact, it is highly advisable to consult with market experts who are ready to take responsibility on handling your investments.
- Pay high-interest debts as you invest because this will cater for losses just in case your investments do not offer returns as expected.
- Strike a balance between investing and other expenses in order to get the best out of your college life.
Practice is key – create a rhythm
It can be quite difficult to start investing but if you create a rhythm it becomes as easy as counting 123. In fact, it becomes a habit and this is one the best elements that will help you perfect the art of investing over time. Further, take advantage of the free advice that is offered by regulated industry player, use technology that makes investment easier, and get an ideal plan that will help you meet your specified goal.
How much should you invest? This is one of the frequently asked questions asked by young investors. In as much as it is important, it should not deter you from following your dreams. The answer to this question is simple and pretty straight forward- start with what you have! Remember, you are targeting to be financially stable after college and you can only invest when you have at hand.
Pool resources with like-minded students
It can be a little bit difficult to get over $50,000 to invest at one-go but if you pool your resources together and diversify your investments. In this case, it is advisable to invest both as an individual and as a group. If you do this you ca never go wrong.
One of the best examples of starting to invest early in life is Warren buffet who presently averages $ 66 billion. He started investing early but it was in college that he was greatly influenced by David Odd and Benjamin Graham (top security analyst). He has remained focused and steadfast ever since. Of course this is one of the success stories you can consider for inspiration as a young investor.
It is important to contact and share this information with friends you think can have the same dream. You’ll be surprised how much money you can raise in a short time to get started-save time because time is money.