Make sure that there is good planning before investing, and seek as much information as you can about the investment, these are things that will make a difference in the future.
Yes its a must and a good starting point to plan whats in your mind. because if you dont, you will be easily fool by those investments offering high return. although its hard to see legit nowadays i consider trading as a good one.
Having a plan before taking an action would be the best way when you are planning to have or put money on an investment since these would really help you in the long run because if you rushed into things without any knowledge or plan maybe the thing you have been expected would go on the opposite way.