Jan 11, 2021 04:56 AM EST
Stock investments is one of the best tools to gain profit with your money. From billionaires to minimum-wage citizens around the globe, this method has been known and used by many.
In the year 2021, are you ready to set your own goals in buying your very first stocks? Before you do that, read these five clear signs you're not financially okay to invest.
A lot of speculations arise when talking about stock investment. Some people say that this is the best thing to do with your money right now. Some justifies that it poses huge risks, that everyone should avoid.
Both of these points are correct. Stock investment can make or break your financial status, especially if you invested without thinking ahead, or too early.
If you're thinking of finally investing on company stocks, here are the things you should look at, to know if you're ready or not.
Here are the top five clear signs that you should NOT invest on stocks, right now.
High level of debt
Financial debt is one of the top reasons of not investing on stocks. If you have debt that you think cannot be paid years from now, it's better to pay this debt first, before entering the world of investment.
High-interest debts are the worst of them all. These financial problems are commonly car loans, house loans, etc.
If you're still paying these right now, it's better to stay away from stocks for now.
You don't have free time
Stock investments needs to be in a long-run before you get profit. However, it doesn't mean, investors should just put their money with their brokers.
You need to have time to monitor and study the highs and lows of the market. If you don't have that, you must not invest.
You don't have savings
Stock market is not like banks. Your money invested in companies can face the most terrible bearish rate, or the best bullish rate.
This means, it has the highest probability that it will be gone in a minute. If that's the case, it's better to separate your stock savings, with your real savings.
You don't have money
Again, if you are facing a huge debt and has no savings at all, never ever enter the world of stock investment.
This means that you don't have enough money to take the stock market seriously. Or you might even lose all your savings in it.
You don't know how stock investment works
Before entering any new things in your life, make sure to study it well and learn from experts. If you don't study the market or the risks of investing, you are too early to start stock investment.
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