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If you want to achieve a high goal, you're going to have to take some chances. —Alberto Salazar
Most people want to be wealthy, but not everyone is willing to do what it takes. What's the cause behind this fear of building wealth? The answer is risk.
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It's true. Investing your money is risky. There are two risks when it comes to investing. The first is that your investment may go down in value. The second is that it might not grow enough to keep up with the rise in the cost of daily living (inflation). Your investments need to increase in value enough to cover the rise in cost of everything as well as taxes. Yes, there is risk in everything. But that doesn't mean you cannot do anything about it.
Alleviate your risk by:
- Diversifying your investments
- Investing in mutual funds that have a successful track record of 5-10 years
- Getting the advice of a sound investment professional
That last point could be the most important. Always seek the advice of an investment professional who takes the time to help you understand your investments and will not sell you any funds that will not help you meet your goals. According to Dave, "A good investing agent not only helps lower your risk but can make you feel downright good about your investment."
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Through Dave's Endorsed Local Provider program, you can be introduced to a trusted investment agent in your neighborhood who he recommends. That means you can count on that agent to help you invest your money as if Dave was doing it himself! Don't let the fear of risk prevent you from building wealth.