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How to Invest Like a Millionaire

2017-07-11 09:29:08 | Business
You should start investing like millionaires do. Ultra rich, high net worth individuals do not have a book of secrets that makes them successful as investors. They, in fact, keep on searching new ideas to multiply wealth. This is what investors do. They do smart investing and with minimum risk quotient. They diversify investments and minimize transaction costs. The High Net Worth Individuals (HNWI) hold most of their money in cash and they are more risk averse. They like to minimize risk and still earn huge profits. They take larger funds in cash or equities. The following are the ways to imitate the wealthy in your own investment portfolio and investing practices.
1. Avoid undue risk
Many people think of the ultra-rich to be ultra-risk takers but they certainly are not. They don’t earn money on the drop of the hat. They tend to focus more on avoiding risk and this distinguishes them from the average investor. Average investors end up thinking that they can multiply their money in an instant by taking a comparatively bigger risk. They end up looking for how much they might earn and fail to take in account the amount they might lose. The tycoons tend to timid far from ventures that are unsafe however guarantee the likelihood of a major playoff.
2. Practice diversification
Another characteristic of millionaire investors is they practice diversification in their investment practices. They don’t stick to only one kind of investment and try to explore further avenues. Being stagnated is out of their dictionary. A smart investor is never satisfied with what he has. Millionaire investors favour blue chip or low risk companies and large cap companies such as Apple and Google. You may not be able to invest in such companies to the extent these billionaires do but what you can certainly do is try to invest a smaller amount in it. It will not multiply your money as quickly as the risky stocks but it will keep your money safe.
3. Use professional investment help but actively manage your own investments
You should not shy away from professional help while investing. 80% of millionaires seek professional help before investing and there is no harm in that. But there are 65% investors who take their own decisions. You should consolidate both. You should seek professional help along with managing your own accounts. Being aware of your investment portfolio holdings still helps.

This article has been contributed by Himanshu Jain, CEO, LegalRaasta, an online portal for GST Software , GST Return Filing , GST Registration , Section 8 Company Registration , Nidhi Company Registration , IEC Registration , FSSAI License, Income Tax Return Filing, TDS Software, ITR Software
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