6 investing lessons I learned in kindergarten
These pieces of advice I got from my mother at age 5 completely changed my life.
When I went to kindergarten, it didn't take me long to get in trouble.
Ever Notice how some folks win the Lottery and or Play Sports yet are broke so quickly. So first things first, learn to control your spending and stay away from the Keeping up with the Jones. Of course, diversifying your skill sets always helps. Being a one trick pony can trap you longer term. Skills sets by the way, which are not only in demand now, but are so in the future.
Once you have put away enough CASH for a Rainy Day and have in place sound Discipline in dealing with everyday finances, only then can you start to consider investments. First rule is this, YOU CAN LOSE YOUR ENTIRE INVESTMENTS IN STOCKS. Don't let folks try to scare you into stocks. You are not in some freaking Contest to prove yourself to others. It's your Life, not theirs.
Education, the more you read and understand about Stock Markets, the more informed choices you can make. Are there folks that are a Natural at it, sure. However, don't ever rely on you being so lucky. Never stop educating yourself about the Markets. Admit that you can be wrong and admit that you made a mistake. Nothing wrong with correcting mistakes. However there is totally something wrong in turning a minor Mistake into a far bigger one.
The Bigger the Risk, the Bigger the Reward, the bigger the possible failure. Understand what the risks are before you leap. IN the end, no broker, posters, or Website will refund money lost in the Stock Markets. You have to live with your choices, not them. What works for them, might not work for you. At the end of the Day, NextTimeUp made one very important observation, Capital Preservation.
I find it very difficult to have a gain of 10% "across the board" in dividends, and still be diversified.?
With the mixes we have, it's comfortable to realize maybe up around 6%, even close to 6.5-7% on a stretch....But going much higher, always seems to lock you into a few or couple Sectors..
There may be some hi-flier MFs that can offer higher paybacks, but again the "specific sector syndrome".
We don't invest in MFs nor ETFs....So maybe we should ??
But am happy with our diverse selections of about 20-25 positions.
The Only way to LEARN....
Talk, ask Questions, Listen..
Never,never keep your mouth shut.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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