Today I wanted to give a quick (20 minute) bit of wisdom to the younger people out there who are just getting started with investing.
It's easy to get started off on the wrong foot by following gurus and well known investors rather than finding your path within yourself.
The number one thing to remember is that YOU are your number one asset. You can do some incredible things with nothing but your effort and passion.
What ever you can save, you should be investing in something.
Figure out what your risk tolerance is. Are you okay with the volatility of a certain market? Do you want to be able to get in and out at a moments notice?
Decide what time horizon you'll be investing within. Is it 1 year? 5 years? 20 years? You decide.
What asset features are you looking for? It could be privacy, control, cash flow, appreciation, etc. Whether that's real estate, precious metals, stocks, crypto, it doesn't matter! Find the asset class that works for you.
Maybe it's one, maybe it's all of them. That's for you to decide.
How much capital do you have to work with. The more you have, the more options are open to you.
Example: If you have only a few hundred dollars, it's probably not feasible for you to invest in real estate.
Once you have the assets that work for you. Start doing rigorous research to find the right investments. For stocks this would be doing fundamental research on companies. For crypto, researching the merits of a specific currency. For Real Estate, researching a neighborhood or city.
Finally, you need to create rules for yourself. When and how are you buying? Dollar cost averaging? Or will you be more involved with a lump-sum style investing like myself. This requires more knowledge of technical analysis and patience.
All in all, you need to figure out a strategy that works for you, and only you! There is no one size fits all portfolio.
Here are the links I promised:
Robinhood (Stock Market Investing):
http://share.robinhood.com/micahm18
Coinbase (Crypto Investing):
https://www.coinbase.com/join/575f97deb93e115976000e48
Binance (Crypto Investing):
https://www.binance.com/?ref=13626955
JM Bullion (Precious Metals Investing):
https://www.jmbullion.com/
Freedom Standard Coins (My Personal Coin Shop):
https://www.etsy.com/shop/freedomstandardcoins
Real Estate:
You're on your own kid! lol
Find me on the internet
Stock Market and Crypto Related:
Tradingview.com
https://www.tradingview.com/u/micahjm...
StockTwits
https://www.stocktwits.com/r/AssetGuild
Twitter
https://twitter.com/talkmicah247
Blogging Content:
Steemit
https://steemit.com/@cryptomeeks
Other Links:
Freedom Standard Coins
Etsy Shop: https://etsy.com/shop/freedomstandard...
Instagram: https://Instagram.com/freedomstandard...
Asset Guild:
Website: https://assetguild.com
Instagram: https://Instagram.com/assetguild
▶️ DTube
▶️ IPFS
Enjoy watching your video brother!
We’re our biggest asset - 100 % Agree
What I leaned in my life is that most people are good at researching everything but they never discover who they’re, what kind of person they’re, what’s their passion, what makes them exciting
Thanks a million for being part of our Blockchain and looking forward to your next content :)
Thanks Nathan. As mentioned, I'm starting a #wealthgapchallenge.
The reason the money isn't distributed well is because only a few are good at keeping their hands on what they get. I want to foster a generation of savers and investors, especially on steem.
Thanks for viewing my content.
Please tag me in some way so I'm notified when you put out content so I can engage. Thanks a bunch!
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