If you’re considering getting started in investing, the process can be daunting. From understanding investing terminology to weighing options to find the best investment strategies for you, it’s easy to feel confused and overwhelmed by choices. Although it’s essential to follow the investment strategies of an expert in the field like Jason Hartman, you can boost the success of your investing career by taking a cue from the Biblical King Solomon, whose advice on life and wealth still ring true today.
Son of King David, Solomon inherited the throne of Israel. Recognizing his inexperience, he prayed for wisdom to rule his kingdom well. His prayer was answered – the kingdom prospered, and the King himself established a reputation for clear thinking and wise decisions that remains to this day. His pragmatic observations continue to be relevant for life – and investing – today.
In Proverbs 4:25-26, Solomon says, “Let your eyes look straight ahead and fix your gaze directly before you. Make level paths for your feet and take only ways that are firm” – advice that can help cut through the confusion of investing options.
In investing, as in any new endeavor, looking straight ahead and fixing your gaze directly before you is key to establishing goals and strategies. Consider your long-term vision for your investments. What do you want to accomplish? Who will benefit? What kind of return do you need in order to accomplish those goals? While it’s easy to get sidetracked by so many options, and so many voices offering advice and suggestions, fixing the gaze on the goal can help you create a detailed plan that gets you from the starting point to the outcome you want.
Once you’ve clarified your goals, the second part of Solomon’s advice obtains. Make level paths by preparing yourself, learning all you can, and eliminating obvious wrong choices. Research the field of investing. Learn the terms. Find out all you can about the kind of investments you’re interested in. Make a list of questions and ideas to discuss with a professional.
After you’ve made a plan and learned all you can, it’s time to let an expert investment guide show you the ways that are firm — directions in investing that are relatively low risk and have the potential to yield the results you’re looking for. With this in mind, you can begin building the kind of diverse portfolio that can withstand changes in markets and the economy as a whole.
As the famed philosopher King says, planning, preparation and sound advice lead to good outcomes for life. And, combined with the recommendations of Jason Hartman, they’ll create good outcomes in investing as well. (Top image: Flickr | gusmachado)
The Solomon Success Team