Everyone wants to be rich, withdraw from the busy and low-salary job. The stock market would be a good place to help you become a millionaire if you follow the rules to invest.
For normal workers, no matter how much effort you are, your job salary is fixed whatever. The salary might maintain your daily life, however, it can’t satisfy your additional needs.
According to the daily expense, zero saving is normal for most people in the U.S. They haven’t a crisis awareness that makes a good saving habit to prevent an emergency.
When an accident appears, your life would ruin because no enough deposit to support your emergency, insurance could help you but merely solved part of the problems.
Therefore, good financial planning is important, which can help you manage your revenues and expenses give a better operation that where your money should go such as save or invest.
Investment is one of the most effective ways for normal people to become a millionaire, you can control the investment amount and risk by yourself.
By the way, reckless investments only will make you bankrupt. Whatever investment should be through your wisdom, patience, and judgment.
What is the stock market?
The stock market is a relatively fair place to invest compared to many investment ways. You can buy/sell the shares of pubic listed companies in the stock market, in order to obtain benefits.
You don’t need to be a full-time expert, just take 30 minutes to analyze and trade your shares a day before going to work, that is enough.
Of course, you need to learn some stock market knowledge. It’s recommended to try a small amount investment first before you practice enough and know well about the stock market.
Someone said the stock market is dangerous and just like a gamble, you may exhaust but get nothing there. To be honest, all investment has risks, it’s impossible to make all people rich.
A good and stable investment won’t help you earn many once, however, your pocket money could become millions if your investment is accurate and numerous enough.
As Albert Einstein quotes “Compound interest is the eighth wonder of the world.” The small percentage earning could grow outstanding when it accumulates enough by compound interest.
It’s not hard that earn 10% in the stock market, you can just follow the trend and buy at the right time, you can earn even more than 10%. However, people who are greedy, don’t sell the stock at right time caused losing money.
Assuming you invest $1000 in the stock market, earning 10% each time, you can get about $100,000 if you do 50 times all correct invest. It is seen as easy but needs a long time to implement. Most people without the patience to do that, want fast money, so they failed.
For investment, you should avoid the attitude that earns huge money just invest one time. These investments are absolute with high risks, which people called gamble.
Most people want money to come fast with a high return, so they choose the high-risk ways to invest. Normally, these people will think they are the luckiest, however, even you earn this time, can you earn next?
There are many senior investors who enter the stock market for decades, but they get nothing in the market. Because they are in the wrong attitude investing.
Stock market books, terms, and formulas only can be the reference for you. No one told you to remember all of them can absolutely earn money.
Learn these pieces of knowledge merely mean you have well-known about the stock market. Practical experience is always the core that you should focus on.
There are 5 simple rules that may help you
Most office workers haven’t that much spare money, even if they want to make long-term investments.
Once they meet an emergency, they can’t hold on and sell the stock usually. Even though the stock market falls sharply, they can only bear and sell.
Retail investors should find the right target in the stock market and doing buy/sell in a short-term approach.
You shouldn’t try to buy at the lowest and sell at the highest. Instead, using your small money doing buy low and sell high strategy as fast as you can in order to accumulate your wealth quickly.
Normally, you just need to concentrate on the stock market at the open hour from nine to ten. It’s the most frequent hour that people do trading.
Ensure that you have at least 30 minutes can focus on the stock market until 9:30. As long as you can concentrate at that time, your efficiency can compare with the expert investors, and it won’t affect your daily work.
Most of the intelligence that you can obtain belongs to the information that everyone knows. That’s why the stock drop-down when you buy and the stock rise when you sell.
The intelligence only can judge the stock trend will up or down, however, you can’t grasp the right time to buy/sell.
Therefore, retail investors should learn how to find good buying points from information such as trading volume and line graphs, so that they can really make money.
Stock trading is a living psychological game. It’s hard to make money if your brain isn’t flexible enough. You must say No when everyone says Yes, your unique thinking can make you earn money.
For everyone who wants to do a personal financial plan, it’s simple as you thought, just take your first step then all will be done.
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