They say that going to work is like an autopilot, everyday you go to work, do your thing and at the end of the month, you ger paid. Is it possible to use this sort of autopilot in investing? In this video I am going to tell you how you could invest on autopilot.
00:00 Why you need to invest on Autopilot
Work, hobbie’s, social life. These are somethings you can do using an autopilot. But an autopilot does not work for a holiday. on a holiday you might like to plan activities or just lay down at the beach. But no matter what kind of person you are, when going on a holiday, your holiday is not set to an autopilot. And this behaviour you have on holidays is closely related to your investing method as well.
02:24 Investing through a strategy
When we go on a holiday, we do not want to waste our holiday time. that is why we have a plan. If want to see everything on you holiday or just lay on the beach, you always have a plan. So, we do not waste or time. The same goes for investing, you need a plan, a strategy. You do not want to waste money while investing. You want to make more out of it. If you make more out of it the strategy worked. And that is the important part, any strategy that works, is a strategy.
05:45 Autopilot while investing
Can we apply the autopilot function while investing, the answer is yes and no. Yes, you can invest a fixed amount, each month. This is called the dollar cost averaging method. But the answer is also no. Every time you need to check if the strategy still works. If the numbers tell you to either buy or sell. You need to look at it very objectively. And that is something you cannot do on autopilot. Sometimes you need to change your strategy depending on the situation. Am i going to buy or sell now? This is just like planning your holiday.
08:56 How to make passive income on autopilot
The best and simplest way to investing is by just setting a certain standard to your investing. You must have clear rules in your investing strategy for it to work. Like, when do i buy? Monthly? annually? What is the amount i can invest, and why? Can i buy more, next to the fixed amount? If the answer is yes? Then you need to ask yourself, why and how? When should I sell or buy? And what are the requirements? Once you believe that this strategy is going to work, go for it! But always keep in mind autopilot does not fully work. That is because you need to adjust your strategy as go. Thing will change or the stocks will drop. You need to adept to those situations. investing is an ongoing process, so investing strategy should be as well. Dare to make changes for the better.
11:36 Want to know more? Read my book!
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