To Succeed at Investing, Make It a Regular Habit

We all get the same 24 hours in a day. But how we spend them can make a real difference in our lives and our fortunes. Riches and success in investing come to those who first invest their time and effort in developing the habits they’ll need to succeed. Doing so means making investing a regular part of your daily life.

Some people may spend most of their precious daily hours watching soap operas. Others might read and write to improve themselves. As time goes by, the difference between these two types of people will only grow wider. If you can develop a habit of regular investing – both by adding money to your stock holdings on a steady basis, and routinely reading and learning more about how to invest better – you could enjoy the snowball effect of investing subconsciously, and thereby improving day by day.

We can’t trust to luck to succeed at investing. It’s incredibly hard to predict where the stock market will go next; like the weather, the news that drives the market changes daily. Even when you find a great business worth your investment, you can’t guarantee you’ll find the ideal price at which to buy into it – you’d have to see the future to do so, and no one can do that.

That’s why we Fools suggest that you’re better off analyzing individual companies, rather than trying to look at the market as a whole. If, in your research, you discover a stock that is worth your investment, wait for a decent entry point and go for it. As long as the reasons you liked the company in the first place don’t change, hold on, reinvest any interest or dividends the stock pays you into more shares, and let your investment grow over time. If the stock falls, but you still like the company behind it, consider adding to your investment while shares are temporarily cheaper.

You wouldn’t go to the gym only on days when you’re feeling weak or sickly. You can’t get the full benefits of exercise unless you work out every day – and even then, building a healthier body takes time. The same goes for investing. You don’t want to jump into the market when you’re short on cash and desperate for a quick win. Instead, a slow and steady approach to building wealth will serve you better in the long run.


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Disclosure: Motley Fool Hong Kong is not licensed by the Hong Kong Securities and Futures Commission to carry out any regulated activities under the Securities and Futures Ordinance.