Buffini & Company Blog

How I Invest

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Many people work hard their whole lives, but have very little to show for it in the end. The truth is, making a good living is simply not enough to build a fortune – you also have to invest your money so that it can work for you. Here’s how:

Invest in what you know

If you want your investments to succeed, you must understand what you’re investing in. This is one reason why real estate can be so solid. After all, everyone needs shelter and we all understand how important a home is. When it comes to stocks, the same principle applies, so always do your research and due diligence before you commit. If you can’t explain the investment, don’t do it.   

Invest in – and with people – you know

Whether it’s someone you know and trust personally, or accountable and researchable third parties, investing in and with people you know is smart. The key to success is to ensure that, as well as trusting them, you’re comfortable with their track record, their competence and their good character.

Be courageous

Warren Buffett once said, “Be fearful when others are greedy, be greedy when others are fearful.” The fact is, nobody can time the markets perfectly. Remember, your attitude dictates your altitude – if you’re courageous, you try to stay up when the market’s down and you stick to your long-term plan, you will have a better chance of success in the long run.

Be a contrarian

When it comes to successful investing, you have to zig when others zag. Savings are crucial, of course – you always have to have the peace of mind that the cushion of an emergency fund provides – but stick to your investment plan and trust your gut, not your fears. As investor Robert D. Arnott once said, “Successful contrarian investing requires us to live with discomfort, for being wrong and alone. But bargains do not exist in the absence of fear.”

Have a generational plan

Jim Rohn once said, “All good men and women must take responsibility to create legacies that will take the next generation to a level we could only imagine.” To have a strong generational plan, you need to get your house in order, which includes having a will, a trust and investments that support your legacy and set up your descendants for success. Your family will still have to work, invest and grow, but they’ll have a better chance of success.

There’s a big difference between making money and creating wealth. To learn more about successful investing and the 7 streams of income you should have, listen to the latest episode of “It’s a Good Life.”

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