When you travel to a new place, whether it’s a country across the world or a nearby city you’ve never spent time in, it opens your mind to new ideas and possibilities. You’ll likely leave feeling inspired to bring some of the culture you experienced back home with you: a new recipe, a habit like walking more every day, or a commitment to spend more time exploring new places.
This inspiration is very similar to what happens when you hear about a new investment opportunity. If you approach the investment with an open mind, ask questions, and take initiative to learn more, you may find something unexpected that helps shape your future and redefine your goals.
In fact, we’ve found that some of the rules experienced travelers live by are the same concepts that will help you succeed as an investor.
1. Take Calculated Risks
If you only stick to the most popular attractions while traveling, you’ll likely miss out on the incredible hidden gems that a location has to offer. At the same time, wandering through an unknown place without a plan can be extremely dangerous. The most experienced travelers know how to do their research and take precautions, so that when they want to veer off the beaten path, they can do so while minimizing the risk.
The same is true for experienced investors. No investment is perfect, especially when you’re just getting started. But if you never take the leap to start investing in your future, you’ll never see the results you’re hoping for. Do the work up front to research and ask questions about investment opportunities, but then don’t be afraid to take a calculated risk based on the knowledge you gain.
2. Choose the Right Vehicles to Get to Your Destination
More often than not, there is more than one way to reach your travel destination. If you want to get there quickly, you will probably take a plane, but if you want to sightsee along the way, you may choose to drive or take a cruise ship. There’s no one correct way to travel, so it’s important to know what experience you’re looking for and where you want to go, and then choose your vehicle accordingly.
Many people make the mistake of starting to invest before they’ve identified their goals and expectations. This is ineffective, because there are so many different ways to invest, and the results will vary dramatically. For example, if you’re looking to generate consistent income in the near future, you should invest very differently than you would if you were trying to build retirement savings. When you take the time to outline your goals and destination, it’s much easier to find the vehicle that can help you reach them most efficiently.
Just like with travel, there’s no one-size-fits all investment. When you keep your destination in mind, you can more effectively evaluate potential investments and ask questions to figure out what opportunities will best serve you.
3. Find a Trustworthy Guide
Just as you can travel without knowing all the mechanics of flying an airplane, you can also invest without being a complete financial expert. In either situation, the key to safety is finding another expert you can trust.
To do that, you do need to have some level of knowledge about how the vehicle functions. Make sure you know enough to be able to ask intelligent questions, notice red flags, and protect yourself from scams or dangerous situations.
If you’re a newly Accredited Investor who’s looking for a guide to help them navigate the opportunities available to you, or you’re a seasoned investor who wants to make sure you’re still using the vehicles that make the most sense for your needs, First Generation Capital Partners is an experienced, trustworthy partner.
There’s no need to commit today, but you can fill out this brief form to get in touch with our team and start learning more about the ways we can support you on your journey.