Stock Market
It's an often repeated truth that some of the wealthiest people in our society made the majority of their fortune through stock investing. It is also true that for every dollar made on the stock market, someone somewhere has lost a dollar, so it's perhaps unsurprising that stock market investing, particularly for the beginner, is considered very risky by some. Achieving any level of success involves a lot of hard work and an element of risk, and investing in the stock market is no different.
If you surveyed every adult in the United States, you'd find that the vast majority prefer to keep any savings they have in bank accounts or savings bonds. While the banks certainly keep their money safe (or at least they used to!), the average saver is missing out on an opportunity to maximize the potential returns on their money.
The stock market can be a risky place, if you trade solely in penny stocks for example, but there are ways you can minimize that risk and see much better results than you ever will from a bank. If you are even slightly risk averse, and many people are when it comes to money, then perhaps stock investing is not for you, but if you take a sensible approach and don't panic at the first sign of trouble, the stock market will almost guarantee you decent profits as long as you are prepared to take a long-term view.
My first piece of advice to anyone picking a stock for the first time is avoid any companies you have never heard of (leave them for the professionals). Look around next time you are at the mall or watching television and think about which companies you use and which companies provide a good product or service. If you stick to solid companies that you are impressed with, you won't go too far wrong (in the beginning at least).
This type of in-person research is great way to get a feel for how well a business is doing, and the great part about it is you don't need any special qualifications to make an assessment. If you visit or use these businesses, it is easy to see whether they are making good sales or not, or whether their level of service is up to scratch. Try visiting more than one of their outlets as well, so that you get a balanced view of what they do well or not.
It's very easy to get paralyzed with too much information when you first start to invest, but it isn't necessary to meet with the CEO or get every piece of information available about a company, go with your gut at first and see where that takes you. Some of my best trades have been effected this way.
What about the industry you work in - is it riding out the recession better than other industries?
The company you work for might not be the best in your industry, but what about your competitors, do they regularly outgun you or do they regularly come up with new and unique ideas to take to the market? Don't over stretch yourself when you first start, stick to the well trodden path, and commit yourself to investing for at least 5 to 10 years.
You will almost certainly see some fluctuations in the stocks price, but don't cut and run at the first sign of trouble - invariably the stock price will bounce back and end up way higher than where you bought it. Whatever your investment goals might be, you will need a supply of quality information you can rely on. This is never more true than when you are starting out, so if you are looking for information about the author's website might just be what you are looking for.
If you surveyed every adult in the United States, you'd find that the vast majority prefer to keep any savings they have in bank accounts or savings bonds. While the banks certainly keep their money safe (or at least they used to!), the average saver is missing out on an opportunity to maximize the potential returns on their money.
The stock market can be a risky place, if you trade solely in penny stocks for example, but there are ways you can minimize that risk and see much better results than you ever will from a bank. If you are even slightly risk averse, and many people are when it comes to money, then perhaps stock investing is not for you, but if you take a sensible approach and don't panic at the first sign of trouble, the stock market will almost guarantee you decent profits as long as you are prepared to take a long-term view.
My first piece of advice to anyone picking a stock for the first time is avoid any companies you have never heard of (leave them for the professionals). Look around next time you are at the mall or watching television and think about which companies you use and which companies provide a good product or service. If you stick to solid companies that you are impressed with, you won't go too far wrong (in the beginning at least).
This type of in-person research is great way to get a feel for how well a business is doing, and the great part about it is you don't need any special qualifications to make an assessment. If you visit or use these businesses, it is easy to see whether they are making good sales or not, or whether their level of service is up to scratch. Try visiting more than one of their outlets as well, so that you get a balanced view of what they do well or not.
It's very easy to get paralyzed with too much information when you first start to invest, but it isn't necessary to meet with the CEO or get every piece of information available about a company, go with your gut at first and see where that takes you. Some of my best trades have been effected this way.
What about the industry you work in - is it riding out the recession better than other industries?
The company you work for might not be the best in your industry, but what about your competitors, do they regularly outgun you or do they regularly come up with new and unique ideas to take to the market? Don't over stretch yourself when you first start, stick to the well trodden path, and commit yourself to investing for at least 5 to 10 years.
You will almost certainly see some fluctuations in the stocks price, but don't cut and run at the first sign of trouble - invariably the stock price will bounce back and end up way higher than where you bought it. Whatever your investment goals might be, you will need a supply of quality information you can rely on. This is never more true than when you are starting out, so if you are looking for information about the author's website might just be what you are looking for.
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