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3 Things You Need to Do to Make Money Buying Stocks
All three have something in common
We have a tendency to make investing too complicated. When it gets too complicated, it can get risky. If you’re investing for the long-term — and that’s really the only way to go — there’s no reason to take on unnecessary risk.
If you have seen success in the recent bull market, don’t be greedy. I have been there before. And I failed to follow one of investing’s most important tenets — it’s never a bad idea to take profits. If you’re sitting on profits, yet still want to be in stocks, consider the following strategy. While it’s not possible to eliminate risk, if you have time on your side and practice patience, doing these three things can limit stress and produce meaningful success over time.
Buy Dividend-Paying Stocks
Before I adopted this relatively strict investment strategy, I got off track because I had too many stocks to chose from. Sounds basic, but think about it. Across global exchanges, you have roughly 630,000 choices. To determine which stocks to buy, you need to narrow the field. This takes specialized knowledge most of us don’t have. And, even if we have some, it’s difficult to pull it all together.
