Make Your Own Luck on St. Patrick’s Day
St. Patrick’s Day, celebrated on the 17th of March, is finally here! While this celebratory occasion is most known for drinking, street parades, and paying respect to Ireland in some form, it is also noteworthy for something else. Stock markets tend to increase regularly on St. Patrick’s Day until one trading day following. This is a little-known truth about St. Patrick’s Day that might make you money, and some of the investors also believe that investing on St. Patrick’s Day brings luck to investors. However, if you’re a long-term investor and have long-term investments in your diversified portfolio, we recommend you make your own luck on St. Patrick’s Day. After all, finding a pot of gold at the end of a rainbow isn’t necessary for a successful investment.
Savvy Investors Don’t Believe in Chance.
Three basic things are common among successful investors. They invest for the long term, on a regular basis, and diversify portfolios. With these principles of savvy investors, you can get a better and a higher ROI (return on investment) depending on the investment type.
1. Make a Long-Term Investment
Compounding helps you to take benefit of your money if you keep it invested for a long time. Compounding is defined as any return on your principal plus any previous returns. For example, if you have money in a bank account, it’s the interest on that sum plus the interest gained in the past. If you have money in an investment account, it’s possible to earn a percentage on top of your initial investment plus past profits.
2. Invest Regularly
You can help minimize the risks of trying to time the market by investing regularly throughout time and adding extra money when you can. Or, instead, you can invest in long-term projects of the companies that will provide you a secondary income from the first year, just like managed farmlands project by Invest4land! Click Here to find out more about their project.
3. Diversify Your Portfolio
Diversification refers to avoid placing all of your eggs in one basket. You shouldn’t put all your money in the stock market. You should search for new investment models. In that way, you can get a stable, diversified portfolio over the years and make wealth quickly.
The Bottom Line is…
Whether there is a pot of gold at the end of this market rainbow, keep in mind that your previous performance in the stock market is never a guarantee of future success. The greatest option for long-term investors is to skip the St. Patrick’s Day rise and stick to their long-term strategy. It’s vital to remember that consistent saving and investing may help you grow wealth over time, whether purchasing a house, budgeting for your children’s school, supporting your retirement, or investing in agriculture and getting a stable secondary income.
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