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You become the average of the 5 people you spend the most time with. In this video, I share the reason behind this belief of mine and how you can choose better friends.
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Contents of this video:
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00:00 – Why You Become The Average Of The 5 People You Spend The Most Time With
02:43 – How I Realised: Your Network Is Your Net worth
04:57 – How To Get Responses From Your Dream Mentors
07:28 – How To Build a Community Of High Achieving Friends From Scratch
10:27 – Why You Need To Give More Than You Get To Sustain Your Community
13:25 – The Meaning Behind Tony Robbins’s Quote: Proximity Is Power
Stock Market Tips To Invest In Your Future
The stock market is not as complex as you think. If you take a few weeks to learn more about investing and get the right tools to assist you, you could become a trader yourself. Keep reading to find out more about the stock market and how you could be making money.
Like a lot of things in life, there is a risk involved with investing in the stock market. However, if you first invest your time in educating yourself about stock investments, you can minimize that risk. The first step in minimizing risks is to acknowledge that risks are involved. With education and research, it is possible it realize an annual return of 10 to 15 percent on your investment with very minimal risk.
Educate yourself about basic accounting principles, the history of the market, and how to read and understand annual reports. While you don’t need to be a professional accountant to participate in the market, this kind of knowledge will help you make the smartest investment decisions, based on your goals for investing.
If you are the owner of basic stocks you should be sure to utilize your right to vote as a shareholder. You may also have a voice in whether a company may make other changes which will affect shareholder value. Voting often occurs by proxy or at the annual meeting of shareholders.
Before making your first trades, hone your strategy using a stock market simulator. There are a number of these simulation programs available online that allow you to make trades using virtual money. This is a great way to test your investment strategies or try out a potential portfolio without risking any of your real money.
Beginners should know that stock market success does not happen instantly. Oftentimes, it can take awhile before a particular company’s stock becomes successful, and many people give up, thinking they are not going to make money. Investing requires patience in order to pay off.
Since purchasing a stock is like becoming a business owner, you must have the mentality of one. Business owners are always concerned about their company’s profits, keeping track of their financial statements, and making sure their business stays afloat. You must be the same way when it comes to your stocks.
Avoid the temptation to trade in and out of stocks too often. While there are some people that day trade, most of those people actually lose money. It is difficult to outperform the market and human psychology often leads investors to sell at the bottom and buy at the top. This is the exact opposite of what an investor should do. Buy a stock at a good price and then hold, unless something has fundamentally changed about the stock’s worth.
Having an impeccable track record does not guarantee that there will be strong performances in the future when it comes to the stock market. Stock prices are generally based upon projections of a company’s future earnings. Having a very strong track record does help, but even great companies may slip here and there.
Learn how to balance risks and rewards. The more successful investors spend a bunch of time studying market trends and current news about the economy. They don’t gamble and they put their money into an ETF, stock, or mutual fund following some careful analysis. This helps keep their balance on an upswing, even when they take a hit.
If you can, try to stay away from borrowing money against your stock. If the company you have invested in goes bankrupt, you will still be responsible for paying back the money you borrowed. Your broker will demand for the money, and if you cannot pay him or her back, they may sell your stock.
Try your best not to let your emotions get involved when you are dealing with the stock market. Getting obsesses about every little thing can lead to you making very bad decisions. You cannot pull out every time your stocks lose money and you cannot go all in just because you made a little profit.
You should aim to look over the status of the stocks that you own regularly and consistently. If you do not do this, then you will not know how your stock is doing. Timing is everything when it comes to the stock market. You do not want to become obsessed, but you can certainly watch over your stock regularly.
Before investing in stocks, be sure that you have some money saved. This could mean just putting a few dollars aside each paycheck. The only way to invest and really make money in the stock market is if you have a sufficient amount to begin with; it does not need to be too much.
Know your local and national tax laws and take advantage of them. If your investing goal is retirement, take advantage of any tax shelters that let you invest tax-free contingent upon not withdrawing until retirement age. Investing 10% of your income tax free can provide better returns than investing 12% that gets heavily taxed by both income and capital gain’s taxes.
When you start out begin by making small investments into one particular stock. This is much wiser than investing a large amount of capital, or your entire savings. If the stock is rising in value, you may want to buy a little more of that stock. The more you invest at once, the higher your risk is of losing a large amount of money in a short time period.
It is best to stay away from penny stocks. These are stocks that cost less than one dollar to invest in. However, as the saying goes, you get what you pay for. These stocks are not only risky, but they also tend not to do so well. Many stock investors avoid them altogether. If you do decide to invest in one, find out why its price is so low.
As you can see, finding the best investments is a matter of education. If you take the time to learn as much as you can about the stock market and stay up to date with the trends, you will make the right investments. Apply the tips you have just read and remember, practice makes perfect.
