Knowing When to Make the Right Financial Investment
Knowing when to make the right financial investment, By Hezekiah Griggs, 19 year old retired millionaire
1) – The first thing that you need to do is evaluate your current financial situation. Set limits on what you can do with any financial opportunity that may come your way. In business we often juxtapose two numbers, a high (meaning the apex, highest financial investment) and a medium, a number that we would most likely appreciate both now and forever. Credit and loans may also be used as a tool to evaluate your current financial position
2) – Ask yourself, "How will this be of benefit to me in five or ten years?"
3) Ask yourself, "What will my family have to sacrifice in order to make this investment?"
4) – How well is the industry doing in the current market. Is there any upside? Is there a bubble? Is there a recessive monetary condition?
5) – I personally believe that if you answered number three and found yourself taking away your family's security, then it should be a NO. If you find that you can deal with the potential problems that you may have answered unfavorably in question 4, moreover you find yourself in a stable economic condition subsequently it should be something that you give good prudence to. If you answered question 2, unable to give an accurate account of what you will gain in 5 or 10 years, and the end result leaves you weaker, or slightly better than your current situation, then you need not consider your potential financial investment AT ALL.
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