Get Smart with Investments: What Kind of Investor are You?
Are you a ‘I’ll try everything at the buffet’ investor or an armchair investor? Investing success doesn't happen overnight and requires knowledge, experience, strategy and patience. Learn more about the different types of investors and find out which type fits you best with this guide designed to help you become a savvy investor. Pick up Luke Harris' book Let's Get Real and get help from The Property Mentors to reach your goals faster! Take control of your financial future today.
Investing can be a complex process, but it doesn't have to be. Understanding the various types of investors and where you fit into that equation is key to achieving success. There are nine main types of investors: the wannabe investor, the frugal investor, the ‘I’ll try everything at the buffet’ investor, the impatient investor, the burnt investor, the cynical investor, the been-there-done-that investor, the ah-ha! investor, and lastly - but certainly not least -the armchair investor.
The wannabe investor is someone who has an interest in investing but lacks experience or strategy. The frugal investor spends time researching and analysing data before investing, but spends less money in the process. The ‘I’ll try everything at the buffet’ investor is often swayed by the latest trends and fads - not always a good idea. Then you have the impatient investor who dives into investments without doing their proper due diligence. The burnt investor has bad experiences with investing and often lacks confidence to move forward. The cynical investor tends to be suspicious of all investments, seeing them as too risky or uncertain. The been-there-done-that investor is more likely to stick with what they know rather than taking on new risks.
Not sure what investor type you are?
Investor Intelligence host Luke Harris's first book, Let's Get Real, tackles the reasons most investors don't succeed - it's not about the investment, it's about the investor. Let's Get Real is a call to action to all Australians who want to take control of their destiny and fulfil their goals - living an extraordinary life is within your reach!
On the other hand, ah-ha! investors have broken through many of these barriers by understanding that investment carries some level of risk but also comes with great potential rewards. They also understand that making mistakes is part of the learning process and embrace it as such, empowering themselves to grow and learn more. Finally, armchair investors outsource their investment decisions to a trusted team of advisers while remaining focused on the end goal - building wealth.
No matter what type of investor you are or aspire to be, don’t forget that success doesn’t happen overnight but instead requires knowledge, experience, strategy and patience. To ensure successful investing long-term, remember to educate yourself properly prior to getting started. Pick up a copy of Luke Harris' book Let's Get Real and learn more about the various investor types and which one fits you best. Then surround yourself with trusted professionals such as The Property Mentors who can help you get there faster - but ultimately it is up to you! Good luck!
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Have a question about investing? Ask Luke Harris.
Each month we like to present a dedicated FAQ episode where we take questions from our listeners and put them to our resident expert, Luke Harris. With more than two decades of residential and commercial investment experience under his belt, Luke has seen the best and worst of the property market.
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