One of the keys to successful investing is putting money in regularly. I’m not talking about day trading, which can be lucrative (but requires time and high risk). I’m talking about building up a steady investment portfolio with a regular investment strategy. Investing each month does not have to be painful; indeed, you can make it a good experience by following three simple rules:
- Set aside a set amount each month. Make sure that you have a regular amount that you pay each month. You can increase that amount as you make more, or adjust it down if you need to. But try to make it a number that you can keep consistent month to month.
- Have that money taken from your account automatically. In the case of company retirement accounts, this can be an automatic amount from your paycheck. However, in many cases you can arrange to have the money for your investments deducted from your checking account. This makes it easier to “remember” to invest.
- Every few months check your investment portfolio. One of the keys to less stressful investing is to avoid daily fretting over your investment portfolio. Every six to eight months look over your holdings and make sure that your investments are doing what they should be. You can change the mix a bit if you need to.
Investing each month doesn’t have to be painful. You will be surprised how much your investments can add up if you just make regular and consistent investments. For more simple iinvestment strategy ideas, you can visit MSN Money Central or Young Money.