An Introduction to Investing—Decide to Take Charge
It was only recently that I decided to take charge of my financial situation. I had to figure out how to invest. It was the easiest part, in my experience, to locate a beginner's guide to investing; the harder part was picking the correct one.
You see, there are probably hundreds of books that claim to be a beginner's guide to investing if you were to visit your local book store or library.
However, having too many options can be more frustrating than having none at all. What the fuck?! How can one pick one? When it comes to investing, many successful people will have different opinions on what is good and what is bad.
What are some ways to reduce the number of options? Or would it be easier to just peruse the yellow pages and find someone to do it?
In the end, only you can decide what is best for you, so I will not tell you. The most I can do is share some thoughts and lessons I picked up along the way.
If you are having trouble deciding what to do, maybe some of this data can help:
1. I opted not to just hire someone to handle my finances because, first, no one will ever care about them as much as I do.
I am willing to collaborate with others, but only after I have educated myself enough to contribute to the decision-making process.
I would like to be well-informed so that I can decide if the information I am receiving is suitable for me.
Another thing to keep in mind is that you should know exactly what you are getting into when you hire someone to work with. You should be wary of anyone claiming to be a financial advisor.
"At times the interest of the client and our interests will not be the same, if that occurs we will do what is in our best interest." (or words to that effect) is likely to be found in the contract's fine print.
Obviously, that is not the exact phrase, but you get the idea. Even if it goes against your best interests, the corporation will still do what is best for them, which in this case is buying and selling a lot of stocks to earn a fee. Use caution.
2. Contrary to what the majority of so-called "experts" will advise you to do, some of history's most successful investors have taken unconventional approaches. The choice is yours: follow the herd or choose an investor who has already achieved financial success and model your strategy after theirs.
I have decided to go down that road. After doing extensive research, I decided to follow the strategies of an investor who had amassed millions of dollars through his investments.
His actions often contradict common sense, but I figure if they satisfy a millionaire, then I should follow suit.
If I were in your shoes, I would seek out guidance from an expert, absorb as much information as possible, take baby steps, and keep learning.
If you want to be a successful investor, it is the strategy you should follow. While a beginner's guide to investing could be useful, it is important to choose the correct one.
