Do you think you are ready to invest in the stock market?
Many people say that stock market is scary.
Some say that it is only for millionaire!
Avoid these mistakes!
Today, many Filipinos are learning how to make money in stocks.
If you are new to investing, you may find it confusing.
Is it possible to make my money work for me? What if the stock market crash and take my money away?
One of the questions that you should ask is not only “how to make money.” You should also look for the common “mistakes” that people are doing when investing in the stock market.
In this article, we are going to reveal the five biggest mistakes that new investors do in making money in the stock market.
1. Lack of Financial Mentor
Financial education is expensive; investing in the stock market without proper education cost more.
If you don’t have financial background, haven’t read any financial book, or never attended financial seminar, you have to find a mentor to teach you.
A mentor can help you fast track your stock market success.
2. Trying to Time Investment on Your Own
Stock market performance affects every investor.
Trying to time the market on your own can disturb your peace of mind.
You might sell too early, or buy high value stocks and sell low.
The remedy was to let experts interpret it for you.
There are online memberships and clubs which give monthly stock update.
There are also mentors who will do this for you. Because they have a team of experts, the information you will get is reliable.
3. Overly Focusing on People’s Opinions
The web can give you thousands of advice on what stocks to buy.
Your friends who are interested in investing may give a bunch of opinion too.
People who call themselves stock market “guru” can also offer a handful of strategies.
What you can do is to find out where your friends get there information.
If they have a broker who helped them to make a lot of money, ask for a referral.
Learn from strategies that offer result.
4. Handling Too Many Accounts
Handling too many accounts will most likely cost you problems.
New stock investors who handle many accounts may find it confusing and hard to manage.
Online transactions take time.
Handling two or more accounts with a different balance can make it difficult for you.
Have one account.
If you feel confident that you can handle more than one, that’s the time to open new account.
5. Withdrawing Your Interest at Once
It is Albert Einstein who said that compound interest is the greatest mathematical discovery of all time.
He further said that “He, who understands it, earns it. He, who doesn’t pays it.”
When you invest your money in stocks, your money will earn from interest
The question is, what are you going to do with the interest?
Many people withdraw it at once to buy a new car and go on a cruise.
Doing this, you are withdrawing your millions in the future.
If you are planning to make money in stocks as your retirement fund, let the interest of your money earn interest too.
Don’t withdraw your interest at once, if you can, do not withdraw it or re-invest it to buy shares.
In Conclusion,
Financial education is one of the greatest investments that you can give yourself.
Learn from these five mistakes and start your investing right.
If you are looking for a mentor who can teach you hand in hand in the stock market, you can check the Truly Rich Club by Bro. Bo Sanchez http://bosanchezmembers.com/amember/go.php?r=63480
By joining the club, you will get financial advice from the Philippines’ stock market gurus.
You will also receive monthly stock market update so you don’t have to interpret the market status by yourself.
What do you think? What are the mistakes that you’ve been doing? What did you do that you succeed in the stock market? Let us know your experience in the comments section below.
No comments:
Post a Comment