Step 6 Patience

Some incredibly successful individuals have made their name by investing in risky assets, and getting rich off of it. Investor gurus such as George Soros and Warren Buffet have made their fortune by putting a large amount of money into one asset that they think will perform very well.

These men have certainly done their homework, and this method of investing has worked well for some. However, it has also ended in disaster for even more.

Growing your wealth does not need to be dangerous and uncertain, though. Oftentimes, the only thing you need on your side is time. Investing in safer assets, holding them for a certain period of time and reinvesting dividends and other profits made off of your investments can not only be extremely effective, but very safe. In the short term, you may lose money; however, history shows you will be ahead of yourself in the long term.

While the benefits of compound dividends and long-term investing are relevant for any type of investor, global investing adds many more levels of complexity. Some nations have companies that pay more dividends in general, while some countries may also provide a better environment for long-term growth. For example, Singaporean companies that pay dividends tend to pay small dividends quarterly, while their European counterparts will often pay one very large dividend once per year. Timing can be very important.

----------To be Continued!----------