Sep 15 2011
Who am I to talk about investing? I’m just some small time moron of a blogger right? Maybe. But I also make a living doing something I started from zero. What began as posting a bunch of hot chicks from Myspace has spanned to a network of three websites and a company that owns another ten as well as represents another 300.
Is that something to brag about? Absolutely not. Is it something to be proud of? Sure. But if it’s one thing, it’s something to pay attention to. At least something I need to listen to.
I bring this up because people are truly freaking out right now, as they should. The economy is a mess and no one knows where to put their money. It’s taken me 7 years to figure out who I am in relation to my cash and you know something? It’ll take me the rest of my lifetime to continue learning.
But here are 2 things I’ve learned along the way……These are the only 2 things I’ll ever listen to from now on….
1. Make Money Yourself, It’s the Best and Safest Way
Everyone is trained to think that their money is going to make money for them. “Rely on stocks, they’re your best long term bet.” That’s fine. I get that. I own stocks myself. But what if you knew how to build a website that could earn 500 bucks a month within a month? Isn’t that a no brainer? What if you could mow lawns every weekend and pick up an extra 200 a week? Isn’t that a no brainer? We stick to things we cannot control to nestle our financial being which makes zero sense. Hell I do it all the time. And yet the absolute best ways to make money, using myself and my own resources, go down by the wayside more often than not. It’s time to listen to yourselves. Inflation goes up? Make MORE money and don’t depend on a market that you have zero control over to make that money for you. Make the money for yourself. Learn a skill, find something, anything that you can directly contribute to that makes dollars. Have a job? That’s great, be proud of yourself. Have a job that doesn’t make enough money? Again, find a skill, do whatever you can to make more. At least that’s in your control. Effort is in your control. What the stock market does isn’t. I know this is easier said than done but isn’t it a hell of a lot more secure than depending on millions of people buying and selling companies you don’t fully understand? For some people, investing is their skill. For most of us, it isn’t. So what? There’s a zillion things you can do. OK, let’s assume you do pick up a skill and do make more money. Where the hell do you put it all?
2. In Whatever way allows you to sleep
I’m not here to tell you to buy stocks. I’m not here to tell you to sock away your cash in a bed. Bonds? Who knows. Yes I have my own portfolio and there’s a little bit of all of these in it. But you know something? I know for a fact if I had 20 grand in one stock idea I’d be staring at it every single day. I know that. I know myself. I know that if all my money were in some bank account technically losing money I wouldn’t be happy without at least trying to put some of it at risk. But how much risk? My point is this. Listen to your gut. Listen to how you feel. If you had 50 grand to put away how would you split it? I’ll tell you how. By splitting it up in a way that allows you to NOT THINK. That allows you to be comfortable. Comfortable with all cash? Then have ALL Cash and forget about the markets! Want all bonds? Then have ALL bonds and forget about the markets! People rarely listen to their guts and they need to. You get too caught up reading about what other people say and you don’t have your own opinion! Listen to yourself. It’s the best advice you can get. As far as stock picking and all that crap, that is entirely up to you but at least make your own bed and lie in it. Read what you can, do what you can. If you’re not doing enough of it, then don’t get involved, simple. Making a quick buck never happens quickly. One more thing. Your comfort level will change over time but listen to it. Today you might be happy owning no stocks and tomorrow you might not. That’s OK! This is why you have to listen to yourself. The moment you get stress, that’s when you need a change.
*Oh and Never Use an Investment Professional. That’s just my personal opinion. You can read about 100 articles telling you why…..
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