As your Financial Freedom Fund grows bigger and bigger you will be able to take some risks. But if are going to take Calculated Risks you have to have studied the markets and followed certain stocks for a while. These stocks don't have to be expensive Blue Chip stocks. You will get there later. There are great stocks available at prices you should be able to afford if you are working faithfully at your Financial Freedom Fund.
So my advice is start early. Before you have a lot of money and while you are still building up your FFF, commit to learning all you can so that when the time comes that you have a Fat FFF you can just seize the opportunity.
Once you invest in something (and by the way this same advice applies to any business you might own or join) support it, promote it and grow it. How do you do this:
1- Support It – If you own Starbucks Stocks (SBUX – Nasdaq) make sure you drink their coffee even if the other guys coffee is a few cents cheaper.
2- Promote It – If you are meeting someone meet them at Starbucks not at some other place whose stock you don’t own. Buy the stock if the fundamental and technical analysis makes sense but you also must love the company.
3- Grow It – By telling your friends about it. If they use the product because you promote it the company will be more profitable and your stock price will rise. If your friends buy the stock the price will may rise as well.
What ever you do, don’t be passive!
Bees don’t make honey by sitting around wishing and praying for their luck to change. You won’t make money unless you work and learn to be like that queen bee that leverages the efforts of others.
No comments:
Post a Comment