Here's how to reach your goals.

Becoming a successful investor can seem like a daunting task. However, the good news is that success doesn’t have one standard. In fact, successful investing is more about achieving your own money goals and not necessarily picking the “right” stock or beating the market. If you want to become a successful investor – and accomplish your own goals – here are seven tips that can put you on the right path.

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Start ASAP.

The best time to start investing is as soon as possible. Even if you don’t have a lot of money, you can start investing. The earlier you start, the longer your money will be working on your behalf, earning compound returns. You really can’t replace time in the market. It’s true that investing $100 a month probably isn’t enough to build an adequate nest egg (unless you start while you’re a teenager). However, the idea is to get into the habit. Develop a mindset that sees investing as a priority. When you start today, and make investing a priority, that sets the tone for the future.

Next:

Here's how to reach your goals.

Becoming a successful investor can seem like a daunting task. However, the good news is that success doesn’t have one standard. In fact, successful investing is more about achieving your own money goals and not necessarily picking the “right” stock or beating the market. If you want to become a successful investor – and accomplish your own goals – here are seven tips that can put you on the right path.

Start ASAP.

The best time to start investing is as soon as possible. Even if you don’t have a lot of money, you can start investing. The earlier you start, the longer your money will be working on your behalf, earning compound returns. You really can’t replace time in the market. It’s true that investing $100 a month probably isn’t enough to build an adequate nest egg (unless you start while you’re a teenager). However, the idea is to get into the habit. Develop a mindset that sees investing as a priority. When you start today, and make investing a priority, that sets the tone for the future.

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Be consistent.

One of the best ways to move forward is to be consistent. This builds on starting ASAP and developing the good habit of putting money into your portfolio. Figure out how much you can invest each month and set up automatic transfers to your investment account. Automatic investing prevents you from forgetting, or from letting other spending take priority. Too often, we let other things get in the way of investing. Consistency can ensure that you keep your long-term financial goals in mind – and automated investing will help you work toward those goals without actively thinking about it every day.

Increase your contributions when you can.

Get a raise? Immediately use a portion of that money to increase your monthly investment contribution. Surprising windfall? Take part of that money and boost your portfolio. Get in the habit of seeing extra money as a way to advance toward your financial goals. You don’t have to put every penny of every windfall toward your portfolio but consider putting at least a portion of any increase you receive toward investing. When you’ve made investing a priority, it’s easier to make that call when you get new money. If your first thought is to boost your portfolio, you’ve made a successful mindset shift toward using investing as a way to reach your goals.

Properly diversify your portfolio.

Successful investors know not to put all their eggs in one basket. For many “regular” people and beginning investors, low-cost index funds and exchange-traded funds can make a lot of sense. They’re broad-based and provide instant diversity across sectors. Additionally, if you add bond funds, you can get asset allocation. As you learn more and become more knowledgeable, you can add other investments from other asset classes, consider geographic diversity, and other factors, based on what you want to accomplish with your money.

Create a plan.

An investment plan can help you chart your course forward. An investment plan is important because it acts as a roadmap. You can figure out where to put your money, decide when to rebalance your portfolio, and manage withdrawals when you have plan. Start by figuring out how you want things to end up, and then work backward. Figure out which investments and asset allocations are likely to help you reach your goal. Then put a plan into motion around what you discover.

Stick to your plan.

It’s true that you might need to tweak the plan on occasion. Sometimes the fundamentals change, or your goals or situation change. Overall, though, do your best to stick to your plan and not make huge changes based on market performance or emotions. Your plan is designed to help you stay on track when you might be tempted to abandon it in a moment of panic. While you don’t need to blindly adhere to it when your own circumstances and objectives change, don’t forget that it’s there for a reason. Stick to it as much as possible and you’ll be more likely to avoid pitfalls.

Be careful who you listen to.

It’s easy to let television personalities and headlines scare you into making a drastic decision. Getting help from financial professionals can be a great idea, especially if you find someone who can help you reach your goals and is willing to listen to you and help you put together a long-term strategy. In fact, it’s probably a better idea to visit with a financial professional than get stock tips from your co-workers. The wealthy often hire money managers and investment advisors. While you might not be to that point right now, getting a little guidance from a financial professional can provide you with outside perspective – and a better approach to your investment portfolio.

Here are habits of successful investors.

Start as soon as possible.Be consistent.Increase your contributions when you can.Properly diversify your portfolio.Create a plan.Stick to your plan.Be careful who you listen to.1 of 10

Miranda Marquit, Contributor

Miranda Marquit has more than a decade of experience covering financial markets, investing, ...  Read more

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