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2 things everyone should have before they start investing: a budget and a savings account

2 things everyone should have before they start investing: a budget and a savings account

30Before investing, make sure you have at least three to six months of expenses in an easily accessible savings account. (Author is not pictured). Geber86/E+/Getty Investing is a great way to build wealth, but first you need to make sure you can afford it. As a former financial advisor, […]

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How you can invest in local businesses (without being a millionaire)

How you can invest in local businesses (without being a millionaire)

You can invest in the stock market. You can invest in mutual funds. But did you know you can invest in local businesses in your own backyard ? (And we’re not talking about the Shark Tank-style angel investing that’s traditionally reserved for venture capitalists + millionaires.) Vicinity Capital is […]

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Should I take out a personal loan to invest?

Should I take out a personal loan to invest?

Measure the risk before you bank on a reward. (iStock) Personal loans are a popular form of debt. The total amount Americans borrowed using this type of financing reached a high of $162 billion in the first quarter of 2020, per TransUnion . Personal loan interest rates are near […]

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Looking for an investing edge? Go for boring

Investors have spent the fall trying to figure out how to profit from the election, the pandemic and the indelible changes they’re leaving on the economy and the stock market. They’re looking for angles on what’s next, the right way to play the exciting transformational changes affecting real estate, […]

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How to Become a Good Stock Investor

Want to Be a Better Investor? Ignore What the Stock Market Is Doing

You want to buy low and sell high, but guess what? So does everyone else. If we all had time machines, of course we’d go back to March 23, the day the S&P 500 reached its low and throw money into the stock market. If you’d invested in an […]

Today you have the opportunity to learn how to make money in the stock market. We have a nice classic from The Peny Hoarder showing you how to win with stocks titled:

Want to Be a Better Investor? Ignore What the Stock Market Is Doing

A good stock investor - gold
gold

 

First my take on the topic:

How to Become a Good Stock Investor

A good stock investor always comes out a winner regardless of the market trend.

What are the most important things a beginner investor should know?

  1. The stock market is always moving either upwards or downwards

 Sometimes the market is up, and other times the market is down. And that is normal market behavior since time immemorial.

And that is the first important fact a beginner investor should know.

  1. There is no specific time to invest in stocks

A good stock investor has a steady investing schedule. This, regardless of market dynamics.

If the market is down, he or she is still investing. If the market is up, he or she is investing. A good investor is active when the prices are low and when high.

His or her investing decisions are least influenced by, the current price level.

  1. A good stock invest has a long term investment strategy

Investors who make money on the stock market have always had a long term strategy. That is the reason they make money.

When the prices are low, they don’t panic. They don’t sell their stocks because of a recession. They hold on because they know the market can only rise.

Thus they hold and wait. They are patient.

  1. Dollar- Cost Averaging

 

Investors who win big know something about dollar-cost averaging. And dollar-cost averaging is the reason good investors win with stock investing.

What is Dollar-Cost Averaging?

According to Wikipedia:

” Dollar-cost averaging is an investment strategy that aims to reduce the impact of volatility on large purchases of financial assets such as equities.”

 

And according to Investopedia:

“Dollar-cost averaging is a simple technique that entails investing a fixed amount of money in the same fund or stock at a regular interval over a long period.”

The bottom line:

The dollar-cost averaging is a good strategy for beginner stock investors.

 

 

Read the original article here – an in-depth look at dollar-cost averaging. You need to read it now.

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Personal Finance Advice Is It OK to Break Rules During a Pandemic

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Personal Finance Advice Is It OK to Break Rules During a Pandemic

More Americans than ever are feeling insecure about their finances and struggling to make ends meet as the coronavirus pandemic takes hold of our health and economy. According to the All-American Impact Survey from Peak Prosperity , 49% of Americans reported a cut in income due to the pandemic […]

Personal Finance Rules It’s OK to Break During a Pandemic

by: Andrea Woroch

msn.com

personal finance advice
50 cent coin – the Euro

Here is my take on Andrea’s personal finance advice:

 

Is it ok to Break Personal Finance Rules Under Any Circumstances?
Andrea Woroch writing for MSN wrote an informative personal finance article on 9/9/2020. The title is as you have seen above, Personal finance rules its ok to break during a pandemic.

And I went, oh my God Andrea, should I go down that route?
Andrea tells me, always pay your bills on time. I ask, “does Andrea know that I am jobless and with zero income because of a pandemic.”

Doesn’t he know that I live from paycheck to paycheck? Where the hell will I get money to “always pay my bills on time?”
Was Andrea’s article giving the right advice to a population suffering due to COVID19?
The answer is no. It all depends on the economic standing of an individual. How do you earn your money?
The majority of folks live from paycheck to paycheck. They can’t afford to lose a single working day because that would mean hunger.

People who survive from paycheck to paycheck have no savings. They have no financial rules to break because they have no financial choices to make. They have no retirement funds.
Was Andrea speaking to this group? No. He was speaking to people who could afford to make financial choices during a pandemic. He was talking to people who didn’t lose much of their incomes.
Andrea’s article gives sound personal finance advice to his target audience. The group whose earnings are above the national average.

Is it Ok to Break Personal Finance Rules Under Any Circumstances?

The answer is NO if you can help it.

Andrea’s piece: Click here to read the original article

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