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Regular Contributor

Lucrative Investments

Hello,

I'd like to make an investment (I'm on a budget though) and don't know where to begin, any suggestions would be helpful 🙂

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Regular Contributor

1. Save  'til it hurts.

2. Go with a well known investment firm

3. DIVERSIFY

4. Don't panic if/ when the market goes down ; it will come back up.

5. DIVERSIFY

6. Mix bonds and stocks for a safety net and growth/ income power.

7. All these things a reputable investment counselors SHOULD tell you; if he/ she doesn't, get out of there!

8. My income is higher now than when I was working full time, in large part because I followed these rules.

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Great information, thanks for your honesty 🙂
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Honored Social Butterfly

@ds30055407 - I would just back off a tad on your first suggestion; to "Save 'til it hurts". I would suggest either "Save until it almost hurts" or "Save 'til it hurts .. then back off a tiny bit." Anything a person feels forced to do "until it hurts", can very easily become the reason they lose their motivation .. whether that's saving money, working out, or anything else.


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Exactly, will continue to save till hurts 😉
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Honored Social Butterfly

Many community colleges have "Investing 101" type classes that are inexpensive; sign up for a couple.

 

Google "Investing for Dummies" or go to Barnes & Noble; for ~ $15 you can get a paperback copy & start learning about the market.

 

Find yourself a VERY reputable brokerage & broker with patience, who'll answer your questions & explain things simply, and help you select the right investment for your level of risk tolerance. Don't get sucked in by promises of well above-average returns, or any broker who wants you to think what he can do is "magic"!


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Thank You for the very good suggestion 🙂

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