Before taking action, it is best not only to find out more about the investment and how it all works, but also to determine what your goals are.
What do you hope to accomplish with your investments? Will you finance a college education? Buy a home? Retire? Before you invest a single penny, really consider what you hope to accomplish with that investment. Knowing what your goal is will help you make smarter investment decisions along the way!
The Starting Point
All too often, people invest cash with the dream of getting rich overnight. This is possible, but also rare. It's often a very bad idea to start investing in the hope of getting rich overnight. It's safer to invest the money in such a way that it grows slowly over time, and that it's used for retirement or a young person's education. However, when your investment goal is to become rich quickly, you should learn as much about high-yield, short-term investments as possible before you invest.
