One of the questions I hear every single day is ‘Where should I invest my money’? When you are just beginning your investment journey this is a very important question as it is vital that you get off to a good start. Too many people have one bad experience with investing and then turn their back on it for the rest of their lives. When you are learning where to invest your money the most common problem is that you have too many options.
I like to call this problem ‘Option Anxiety’
The definition of option anxiety is when you have so many options to choose from that you start getting anxious about which one you are going to choose. Pretty soon you are incredibly stressed about which option you are going to take. All of the options start to look pretty good but you just can’t make up your mind. In the end you decide that all these options are simple too stressful and its much easier to do nothing. Does this sound familiar? It really is quite a bizarre thing but I’m sure everybody has experienced it at some stage.
When I first began my investing career I used to always get option anxiety when deciding where to invest my money. Should I invest my money in the stock market, should I invest my money in real estate, should invest my money in the bank – quite simply WHERE should I invest my money.
If you too suffer from option anxiety then don’t worry, it is an easy problem to solve. There are two main reasons why most people get anxious when they are investing their money for the first time.
1. The most obvious reason is because they have worked extremely hard for their money and they don’t want to loose it. This is a very natural emotion as nobody likes loosing money. If you come from a family that didn’t encourage investing then deciding that you want to invest can be an incredibly big accomplishment in itself.
2. When we are doing things that we don’t really understand we get scared. This is totally normal and in fact a very sensible thing to feel. If humans didn’t get a little bit scared when we were doing foreign things then we might get ourselves into a lot of trouble very quickly. In saying this it is very important that we don’t let this natural fear hold us back form doing anything.
So how did I overcome these problems and decide where to invest my money. I picked an investment strategy that I was comfortable with and then I built up my knowledge and got some expert advice. Pretty soon after that I was addicted to investing. So you are probably asking “how can I learn where to invest my money”.
Well the first thing to do is to decide which kind of investment you think you are most suited to. The obvious two choices are Property
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