And we're tempted to share hot tips about *#&%&#** and #$@!*

而我們總想要分享這些關於投資 *#&%&#** 與 #$@!* 的訣竅。

Seriously, put your money there and you can't lose.

說真的，投資你的錢到那裡，絕對不會虧。

But instead, we usually just say, "It depends.”

但事實上，我們總會回答「看情況！」

Investing should always be looked at through your personal context.

投資的情況總是因人而異。

What might be a sound investment for your bestie might be totally inappropriate for you.

對你麻吉最好的投資，或許對你來說反而沒那麼好。

So if you're considering dipping your toe into investing and wondering where to start, the first step is to ask yourself 5 important questions before putting any money on the line.

如果你在考慮投資又不知道從何開始，在把錢投進去前，首先你該問自己五個重要的問題。

When confronted with an investment opportunity, most people wonder how much money they'll make, when the more appropriate question is, "HOW MUCH AM I WILLING TO LOSE?”

當遇到一個投資機會時，許多人會想他們可以賺多少，但真正應該問自己的是「我最多可以賠多少？」

If you have a thousand dollars to invest, how would you feel if you lost a hundred of that.

如果你拿 1000 美元 (約台幣 30,500 元) 來投資，賠 100 美元 (約台幣 3,050 元) 你會怎樣？

Two hundred?

賠 200 美元 (約台幣 6,100 元) 呢？

Five hundred?

賠 500 美元 (約台幣 15,250 元) 呢？

Now, if the thought of losing money at all makes you sweat a little, you're not alone.

如果想到會賠錢就讓你冷汗直流，那你並不孤單。

"Loss Aversion" is the term psychologists use for our tendency to fear losses more than we enjoy gains.

「損失規避」是一個心理學家用來形容人們總是害怕失去大於享受收穫的詞。

It's why many investors sold off their holdings during the market crash of 2008.

這也是為什麼許多投資者在 2008 市場金融危機時把所有股份賣掉的原因。

They overestimated their risk tolerance when times were good, and ended up selling at a loss when the seas got stormy.

當時機好時，他們錯估自己的風險承擔能力，於是落得在賠錢時賣掉股份。

Knowing your personal threshold for this loss-pain (even short-term) is a great start to knowing what kind of investment is right for you.

搞清楚自己對賠錢 (短期投資也是) 的門檻，是找出最好投資的好開始。

The second question you should ask yourself is what is the goal or purpose of this investment?

第二個你該問自己的問題是，這項投資的目標或目的是什麼？

Is it for your retirement?

為了退休養老？

For your child's college?

孩子的大學學費？

A trip around the world?

還是要環遊世界？

Each of these goals probably has a completely different time-scale.

這些目標在時間軸上可能會有完全不同的時間區塊。

If your goal is far into the future, you could probably handle a more aggressive long-term investment option like the stock market or real estate and take on more risk.

若目標設立在遙遠的未來，那或許可考慮較有野心的長期投資來承擔更多風險，如股市或房地產。

That way you can leverage the longer time-line and put yourself in the position to receive the maximum reward while also allowing yourself space to recover from a recession.

如此，就可以用長時間的優勢來讓自己得到最大的獲利，而且也可以給自己空間從經濟衰退的衝擊中復原。

But if you are just a year or two from your investment goal, a dip in the market might mean you can't afford to pay for that goal. So you're probably better off sticking with something less volatile, like a CD or a bond fund.

但如果目標較為短程，如一至兩年，可能會無法負擔深入投資的成本，所以可以試試更短程的投資，如定存單或債券基金。

One of the habits in Stephen Covey's classic "7 Habits of Highly Successful People" is "Begin with the end in mind."

Stephen Covey 的經典著作《與成功有約：高效能人士的七個習慣》的其中一項就是：以終為始。

And nowhere is this more true than in investing.

而這在投資上可說是再正確也不為過。

As you consider your goals, you should ultimately make a decision on the circumstances that would lead you to selling the investment.

當你在思考投資目標時，也該考慮什麼情況，會讓你決定要售出投資。

This helps you avoid selling in a panic or hopping from one "greener pasture" to another."

這能避免在慌亂中售出，或從「綠地跳到荒地」。

For example, you might decide that you plan to own an investment for at least 10 years.

舉例來說，你或許會計畫擁有一項投資至少十年。

Or that you'll get out if the investment loses 10%.

或當這項投資賠 10% 的時候就退出。

Knowing these details in advance will help you both pick an investment with realistic goals, and help you keep your head if the news headlines get hysterical.

預先計畫這些細節，能讓你在挑投資時有個實際目標，也能在新聞頭條變得歇斯底里時冷靜面對。

It's okay to allow your rules to be a little flexible, but having no plan at all can lead to your decisions being driven by emotions like greed, fear, or panic.

計畫當然可以有點彈性，但完全沒計畫，會讓你的情緒，如貪婪、恐懼、恐慌等，主導你的決定。

Many brokers and investment companies are notorious for hiding fees or making them super complicated.

許多經理人與投資公司出名地會隱藏費用，或讓它們超級複雜。

So it can be tricky to figure out exactly how much an investment cost.

所以要搞清楚一項投資究竟要花多少並不簡單。

Sometimes there's a simple one-time fee — like a stock-trading service that charges per-trade.

有時，會有一次性支付的費用，如每次都有的股票交易服務費。

Mutual funds and index funds, on the other hand, charge you a percentage of the money you invest every year, and perhaps even an extra sales charge in the form of a "front-end-load."

共同基金與指數型基金則不同，每年會從你投資的金錢裡收取一定百分比的金額，甚至有些還會有「申購手續費」。

An investment advisor will typically add an additional fee-layer for the service.

理財顧問通常還會再加額外的顧問費。

So if you hire one, be sure they're providing plenty of value.

所以，如果有雇用理財顧問，請確保他們真的有用。

Even investment options that appear to be free, like CD's and high-yield savings accounts come with "opportunity costs.”

看似免費的投資，像是定存單或高利息儲戶帳戶，其實也有「機會成本」。

They're re-investing your money into higher-paying investments and pocketing the difference.

銀行會把你的錢重新投資到高獲利的投資，然後再以不同的比例分紅。

Free investment apps like Robinhood generate income by earning interest on whatever cash you have in your account that isn't currently in an investment.

免費投資應用程式 Robinhood 以你帳戶裡任何沒在投資的現金來產生利息，以產生獲利。

To be clear, paying a price to invest isn't bad, or even something you can always avoid.

說實話，付點代價投資並不差，但也可以是件可避免的事。

Just make sure you know what you're paying so you can decide for yourself if you're getting your money's worth.

確保自己了解投資的東西，然後你能自己衡量，這錢花得是否值得。

It would be fine to put all your money on a single roll of the dice if you could be certain of the outcome.

如果確定能獲利，而孤注一擲所有的錢，當然可以。

But in the real world, there's never a sure thing.

但在現實世界，從沒有百分百確定的事。

Spreading your assets out and avoiding over-concentration can help ensure that your fate isn't in the hands of any single company, sector, or industry.

分散資金，預防過度依賴，這可以確保你的命運不會掌控在一間公司或一個企業。

For example, let's say you have most of your savings in the stock of the company you work for.

舉例來說，就說你把大部分的積蓄都花在你工作公司的股票好了。

What would happen if your employer suddenly went belly-up?

若公司突然破產，會發生什麼事？

You'd not only be out of a job, but that money you were counting on for retirement could evaporate.

不僅會失去工作，你的退休金也會一夕蒸發。

A financial advisor might recommend selling off some of that stock and diversifying elsewhere, like buying a home or opening up an IRA.

理財顧問可能會建議售出部分股份，並分散投資，如買房或開設個人退休帳戶。

Remember that 2008 crash?

記得 2008 年金融風暴嗎？

Many people had the bulk of their net worth tied up in their homes and couldn't afford to ride out the storm.

許多人的大部分資本淨值都與房屋綁在一起，因此被金融風暴吞噬。

Balance is key.

關鍵是取得平衡。

So whenever you're trying to decide on a new investment, consider how it relates to the rest of your assets.

所以，在考慮新投資的時候，也要想想你剩下的資產會發生什麼事。

If there were a one-size-fits-all that worked for every person in every situation, it would make our job a lot easier.

若有種一體適用，人人都行且各種情況都適用的投資，我們也就不用那麼努力地跟你們解釋了。

But picking the right investment doesn't have to be as overwhelming as you might think.

但選擇正確的投資，並不是一定得像你想得那麼有壓力。

Asking yourself a few basic questions can go a long way to simplify which choice is best for you no matter what surprises might be around the corner.

問問自己一些簡單的問題，能幫助你找出最好的選擇，也能幫助自己面對突如其來的「驚喜」。

And that's our two cents!

這是我們的建議！

Thanks to our patrons for keeping Two Cents financially healthy.

謝謝贊助者們讓 Two Cents 經濟狀況良好。

Click the link in the description if you'd like to support us on Patreon.

若想用 Patreon 小額支持我們，點擊敘述欄的連結。

We want to hear from you!

我們想聽見你的聲音！

Tell us the story of your first investment in the comments.

在留言區留下你第一次投資的故事。