Many people would rather sit on the sideline to watch others invest because they think investing isn’t for them. This is partly because when it comes to investing, there are so many myths.
Today we will look at four common investing myths that you might have come across– and the truth that might change your perspective.
Myth #1: You need to have a lot of money to invest.
Truth: With the democratization of the investment market through the use of technology, investing has become very easy and affordable to everyone. Many platforms now allow you to invest in stocks, bonds, mutual funds, and even real estate with as low as ₦10,000.
Myth #2: You can’t invest because you don’t understand how investing works.
Truth: You don’t need years of experience before you start investing. Take advantage of investment companies with investment experts and advisors who can help in building your investment portfolio based on your risk appetite and budget.
Myth #3: You don’t need to invest if you have money in a savings account
Truth: Your savings account does not protect your money against inflation and general market volatility. High-yield assets like real estate will always protect your money against inflation and build wealth in the long term.
Myth #4: You cannot invest if you don’t like taking risks
Truth: There are different investment assets for different risk appetites. A pro tip is to find the right risk-return balance while diversifying your portfolio by investing in different types of assets.
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