Investing can be a powerful tool for building wealth and achieving financial security.
However, it’s essential – especially for rookie investors – to set clear investment goals and develop a well-thought-out strategy to reduce risk and sidestep the common pitfalls.
1. Define Your Investment Goals
The first step in any investment journey is to define your goals. What is the principal purpose of the investment? Is it to accumulate a nest egg for retirement, a down payment on a house, or your ch...