Tip 11. Know what you invest in - Better Investing Tips

Don't risk money just because "everyone else is doing it".


A lot of good people got burnt in real estate because everyone else "seemed" to have been making money on it. Right now everyone is jumping back into stock market. This is called "lemming" or "crowd" mentality - doing something because everyone around is doing it. This could lead into you making investments in assets you don't really know or understand. And that's one of the worst decisions you could make with your money. Think about it: how are you supposed to make and manage investment successfully if you don't know what you are doing?

Avoid "hot tips", "hot stock or industry", "everyone is making money on it" kind of investments and only put your money to work with things you know.
 
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