DISCLOSURE: THIS POST MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. PLEASE READ MY DISCLOSURE FOR MORE INFO.

1. Don't Try to Time the Market

The "best" time to start investing is always now. Becoming a successful investor takes time and discipline! There is a lot to learn, and within every investment experience, there will be ups & downs and likely some hard knocks. Better to get the ball rolling now with a long-time horizon.

2. Make Use of Tax-Advantaged Accounts

Always minimize the impact of taxes by focusing on investing for the long-term. If an investment continues to produce above-average returns, stay vested. Also, make use of tax-free or tax-deferred accounts such as traditional IRA, Roth IRA, and 401(K) Plans.

3. Leverage the Power of Compounding

If you have identified an investment opportunity that provides above-average returns, the longer you invest your money, the faster it will grow! Refer to my post on The Power of Compounding.

4. Diversify Your Investment Portfolio

Identify a number of opportunities with the highest probability of producing above-average returns, ideally between 10 to 20 solid investments. Don't feel compelled to do it all at once! Do your due diligence and understand your investments. Focus largely on those for the long-term.

5. Monitor Your Investments

Stay the course for the long-term with respect to well-researched investment opportunities with ongoing above-average returns. Monitor your portfolio regularly and weed out poor performers! Don't be hasty in making investment decisions, and always re-examine the fundamentals of an opportunity before unloading an investment. Similarly, don't chase hot investment tips without doing your own research of the fundamentals. Be sure to have good reason to buy or sell any investment!