11 Golden Rules of Investing

While each investor might have their own approach to investing, there are some best practices that make sense most especially for those new to the investing game.

Build an Emergency Fund First

Set aside for emergencies before you start investing means that you won’t have to tap into your investments when an unexpected expense like a leaky roof or job loss happens.

Take Advantage of Free Money

If you have access to a workplace retirement account and your employer provides a match, contribute at least enough to get your full employer match.

That’s because  long-term investments benefit from compounding, which means that your earnings generate additional earnings over time.

The Sooner You Can Start the Better

Build a Diversified Portfolio

This strategy aims to ensure that when some investments go down, others go up, creating a balance that limits losses.

Make It  Automatic

Most brokerages allow you to set up automatic, repeating deposits in other types of accounts as well.

Stick with Your Plan

Investments fluctuate over time and prices will change. If you have a long time horizon, you may not need to be overly concerned with how your portfolio is performing day  to day.

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