Want to Make Smart Investments? Use These Expert Tips.Finance guru Phil Town shares some of the best information he's collected over his investment career.
ByPhil Town•
Opinions expressed by Entrepreneur contributors are their own.
In this video, Entrepreneur Network partner Phil Town discusses some of the best pieces of investing advice he's ever received. They are:
- Avoid watching the price of stocks on a daily basis. Just like a watched pot never boils, you can't expect major changes to happen each day.
- Live off one stream of income, then invest the other.Town emphasizes the importance of paying your bills and maintaining a quality lifestyle; once you've settled the basics, try to invest whatever you have left.
- Buy businesses, not stocks.Town stresses that you must believe in the companies you invest in.
- Treat all your investments the same.If your investment will still be active in a decade, keep at the process and stick with the business to see its true performance.
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