There are a lot of misconceptions about investing that has made people make the crucial mistake of having no investment. An investment is an asset acquired with the purpose of increasing its value over time. It is the only way to make your money work for you. There are several investment opportunities like peer to peer lending, stocks, treasury bills, and others. Investments are generally made for future events such as medical bills, weddings, retirement, children’s fees, and others.
Several myths have been spread about investments that have allowed people to miss the beneficial opportunity of investing. Here are five (5) myths on investment that have kept people from investing and the truth about them.
MYTH 1: Only the Rich Can Invest
One of the most common myths is that only the rich can invest. People believe that only those earning a high income can invest, and this is untrue. Some investments can be made with a little amount of money that can yield good returns. Some investment opportunities indeed require a high amount of money. However, you can start with a little amount of money and keep investing it till it becomes huge. This myth has become one of the biggest excuses used by people to avoid making the sacrifice of investing. The truth is; anybody can invest.
MYTH 2: Too Young/ Old to Invest
Another misconception about investment is that a person can be too young or too old to invest. There is no age limit or age bracket to investing. Whether you are old or young, you can invest. However, you need to conduct a little research before investing in any platform. If you don’t understand it, you can go on to safe investment opportunities like Sycamore where it is safe, guaranteed, and yields high returns. Your age is not a limitation to investment. So again, the truth is; anyone can invest.
MYTH 3: Investing is Complicated
Investing is said to be complicated, and there could be some degree of truth to this myth. It is highly advised to research before any investment is made. No matter how simple it seems, research is needed. However, purchasing an investment is simple and easy. It is similar to making any other purchase. Whether it is stocks, bonds, or peer to peer lending, it is simple to buy an investment. The truth is; investing is simple, but research is essential.
MYTH 4: Investing is Like Gambling
Another myth is that investing is a lot similar to gambling. There is a big difference between investment and gambling. When you gamble, you put your money into something (a game) and hope for good luck to bring you a win. More often than none, there is no assurance or certainty of winning. Most gamblers suffer a lot of loss and probably win a few times. Investing, on the other hand, is direct. Once you have done appropriate research, you can have certainty about the amount you will receive from that investment. There are also investment opportunities that are 100 percent guaranteed to yield good returns. Peer to Peer lending platforms like Sycamore offers investment opportunities that are guaranteed to yield returns without any condition. The truth is: Investing is NOT gambling.
MYTH 5: You Will Get Rich Quick.
The misconception that a good investment is like a Ponzi scheme that yields instantaneous returns has made people get swindled. As much as investment yield great result, it usually takes a period of time. Investments are made for the future, not for immediate use. Great investments usually take a couple of months or years before you can get the best returns. Any investment platform that promises to make you rich instantly is a scam. Although investments may take a while before it yields profit, it is very beneficial. The truth is; great investments take time.
These myths have held people back from investing and made others fall into wrong/fake investment opportunities. Once you can overcome these myths, you can start investing in your future. You can start with a little amount and grow it into a more magnanimous amount, if you are still not sure about investing. Sycamore also offers great investment opportunities with guaranteed high returns for all investors. We are a peer to peer lending platform that is transparent and passionate about creating financial freedom for all investors. Visit us on www.sycamore.ng and let your money work for you.