4. Don’t be so greedy, just sell.
If any of your investments increase in worth and you’re happy with the return, just sell. Don’t hold on expecting to quadruple your money. One of the companies that I own shares in doubled within a few months. Awesome! I sold the stock and went to a 5-star resort in the Bahamas– or not. I wish I could tell you that I sold the stock and enjoyed the profits. Instead I held on, out of sheer greed, and my investment is back to square one. No profit, no loss. What a waste of time, stress, and risk. Trading stocks is very risky. Set upper and lower limits, and follow them religiously.
5. Everything CAN and WILL Change.
I’m sure you’ve all heard the classic quote– “There’s only two guarantees in life: taxes and death.” This is 100% true. Nothing is guaranteed in life. If you’re earning lots of money, this could turn around and you could be unemployed. If you’re unemployed, you’re only one job offer away from earning more money than you ever have in your life. My best advice in this field would be to never get too comfortable with any situation because you never know when you’re going to have to switch things up.
I hope that all of the young readers of The Wisdom Journal learned a thing or two from this article. What else do you guys wish you knew in your early 20s?