17. Learn all you can and diversifyDec 18, 2019
Don’t just jump into any form of investing because you heard it was the right thing to do or it was going to take off. You should never invest in what you don’t know. You should learn all you possibly can about investing in something before you actually do it. I would say at least one pro and one con from reputable sources.
Obviously, if you want to put a small amount of money down on a company you like or feel comfortable with, you can do it. However, most investors have at least three different types of investments. Some have low risk, moderate risk, and high-risk piles. Some have real estate, commodities, and precious metals. It doesn’t matter how you do it, as long as you don’t put all your eggs in one basket.
This is especially true with company stocks. Look at Enron. You don’t want to work for a company and have all your investments in that one company, too. If that company fails, you’ll not only lose your job, you’ll lose your savings and retirement as well.
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