5 Investing Practices to Save You Money and Increase Your Wealth

Growing your wealth through investing is possible. Whether you are a beginner or an advanced investor, you can increase your wealth if you desire. Start with developing solid investing habits that you commit to doing consistently. The more consistent practices you create, the better investment decisions you will make to achieve the financial freedom you want.

If you are willing to learn new strategies, create discipline, and do some planning, you can develop successful investing habits to achieve your financial goals. I love helping people who struggle with investing to gain confidence and clarity.

You can grow your wealth by investing in the stock market, whether you are a seasoned investor or a beginner. Sometimes you may experience challenging periods to make money, while other times, it is easier. Review, evaluate, and decide if you are ready to change some of your present investment habits that may not be working.

You want to create a plan that includes safety and capital preservation, so you manage your risk. You can adjust your plan until you see the results you want.

Develop a simple plan and a consistent strategy where your money works for you to meet your lifestyle needs.  The first step is to create a clear investment plan that includes risk management. You start by developing good trading habits. Create a disciplined process to follow. It’s easier to stay disciplined and follow your plan when you determine your time frame before you invest, whether it’s for the short-term or weeks to months (intermediate-term).

Find a strategy that allows you to sleep well at night without worrying about your investments.

My rule is this: if you are not sleeping at night, your investment portfolio is not correct for you; it’s time to make a change. ~Bonnie Gortler

When you do, everything else will fall into place.

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” —Robert Kiyosaki

Implementing small changes now makes a massive difference in relieving the stress associated with your finances and helps you feel more confident.

5 Investing Strategies to Save you Money and Grow your Wealth

1. Know what your investments are. Read documents such as a prospectus or fact sheet to gain more knowledge. Track the performance of your portfolio on your phone or computer.  Many applications are simple to use to help track your investments. You will find quotes, data, charts, market news, screeners that give you the most active stocks, best-performing mutual funds, and other information to help you make investment decisions.   Yahoo Finance is one of my favorite free resources on the internet web version, iPhone and Android. If you have an iPhone, a second resource is an app called “Stocks.” For Android, it’s called My Stocks portfolio.

2. Review your portfolio holdings at least once a month yourself or ask for support from a wealth coach, financial planner, or investment advisor. Start by seeing if any individual stock, Exchange-Traded Fund (ETF), or bond holding is overweight and has a higher impact on your portfolio. It’s important to schedule the reviews in your calendar so you make it a priority and remember to do it.

3. Make your investment decisions with the current trend of the market. The trend is your friend. If the trend is up (a bull market), it’s easier to make money. If the trend is down (a bear market), it’s harder to make money, and that is where most investor accounts will decline sharply. If you are a trader, be patient and wait for your setup to occur. Buying too soon can be costly. You want a strategy that fits your trading style to manage risk and, in turn, grow and sustain your wealth.

4. Emphasize safety and preservation of capital. Develop flexibility with your assets, so if the stock market is not doing well, you can make a change in your portfolio to reduce your exposure quickly to protect your assets. Your investments should be flexible and enable you to reduce or add to your investments in small or larger increments. Ask questions, so you know what options are available for altering your investment holdings to move them to cash or a money market where there is little or no investment risk.

5. Invest in sectors with positive relative strength. Avoid being in industry sectors that are out of favor and are trending down and sometimes falling sharply.

Remember that investing in the stock market is a marathon, not a sprint. Investing is a long-term commitment where you have so much to gain. Risk management, discipline, and planning are necessary so you can make money consistently. Use a comfortable strategy that works for you. Being consistent with your habits now helps your investment decisions which is the key to achieving your wealth goals.

If you liked this article, you will love my Free Grow and Sustain Your Wealth Report. Get it here

Bonnie S. Gortler

Bonnie Gortler, Consultant, Coach, and Author specializing in Wealth and Well-Being, is a successful stock market expert who has been instrumental in managing multi-million-dollar client portfolios within a top-rated investment firm during her over 35-year corporate career. As the author of “Journey to Wealth,” Bonnie has made it her mission to share the importance of risk management and how to enjoy real financial well-being by applying the technical and mental sides of investing. Bonnie has an M.B.A. and is a certified life coach. It is through her love of coaching, consulting, blogging, and social media that she creates change in the lives of many and inspires people from around the world. Bonnie is fully committed to your personal growth and development as she shares her winning spirit and powerful techniques with you. Visit BonnieGortler.com to gain tips and insights about investing, personal development, and inspiration through her articles on Wealth and Well-Being.
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