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Don't believe these Investment Myths - Investment - Nairaland

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Don't believe these Investment Myths by DyshApp: 11:17pm On Jun 06, 2023
Investing is a nine-letter word that sometimes feels much longer than it is. From the outside, investing may appear to be a difficult task that can only be completed by those with extensive experience or huge sums of money.

However, investment is actually among the most straightforward things a person can do for themselves and their financial future. And you don't need to be brilliant or have a huge money account to get started. You only need to unlearn all the myths you were taught about investing, and that's all.

This piece will help you unlearn those myths.

Myth I: It takes too much time to invest
First of all, I want to point out that anything you do takes time, especially things that are worthwhile.
The amount of time you spend on investing is overblown. For most people, the most time-consuming investment is simply learning the basics of financial literacy. But that doesn't take too much time either, and once it's done, that's pretty much the only time you'll spend on it.

Myth 2: Investment is for the rich
Although investing is simpler when you are wealthy because you don't have to worry about living paycheck to paycheck; however, investing is not exclusively for the rich. It doesn't cost a lot of money to invest. All you need is the self-control to invest a little portion of your income and the persistence to see it grow.

Myth 3: Investing is a fast route to wealth
A lot of people want to invest because they believe it is a get-rich-quick scheme. Although it often appears that investors make billionaires overnight, doing so is difficult.

According to financial advisors, investors seldom get wealthy through speculative assets like cryptocurrencies. Long-term success depends more on having the discipline to keep to a long-term strategy and having a good asset allocation, such as the proper ratio of stocks to bonds.

You can check out the other myths on Dyshus webpage(link in bio)

Learn more from our Smart Money 💵 sessions. Don't miss the Q&A📖 session on Dysh every Tuesday at 5 pm, where our expert🫰 on money matters will be available to answer all of your questions(link in bio)

Did you believe any of these myths?

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