Sometimes you don’t know what you don’t know.
I’ve always been interested in investing, but I haven’t always had the bandwidth to learn.
In May 2017 when I was finally able to get my head above water, I wrote down a list of questions that other brand new investors, like me, might ask.
First I made a list of all the terms I needed to research:
- asset classes
- dollar cost averaging
- Class C and Class A stocks
- short sell
- gross margin
- penny stocks
- blue chip stock
- SEC filings
Then I created a list of questions:
If you own shares of a company that offers dividends, but then you sell your shares of that stock, will you still receive dividends for the period when you owned the stock?
Where can you find a company’s income statements and balance sheets?
What’s the best strategy for selling your shares of a stock, i.e. when is it most advantageous?
Do you need special knowledge to become a day trader? Can you day trade on Robinhood, or is it best to go through a brokerage firm?
Best case scenario, what’s a realistic amount that an inexperienced investor can potentially earn in their first year of investing? Continue reading “What Tips Would You Recommend For Brand New Investors?”
How soon is too soon to learn about managing money?
A few months ago I learned some alarming facts about debt and money management.
According to NerdWallet’s 2017 American Household Credit Card Debt Study, the average American household with credit card debt has a balance of approximately $15,432.
Indebted households pay hundreds in interest each year, and many Americans use credit cards to cover medical expenses.
Nearly 1 in 10 of those earning more than six figures annually said they struggled to make ends meet.
We need to have a conversation about money. Continue reading “Money Milestones For Children And Young Adults”
Is it right to want to be rich?
Since I started this blog a few weeks ago, I’ve been asking friends and family to share their perspectives on wealth, personal finance, and money. When you were younger, what did you learn about money?
How do you feel about money?
Like most broke people, I hate money. From a historical standpoint, money was basically just made up.
What were you taught about wealth and money when you were younger?
Nothing: Go to school. Get a good job.
What do you wish you knew about money when you were younger?
I wish there was more emphasis on saving money. I don’t know if I would’ve ever listened. There are certain concepts I wish I knew earlier because a lot of things are time-based. I wish had learned better business sense too. Continue reading “How Do You Feel About Money?”
What do you have? What do you need?
I used to sell life insurance in one of those thinly veiled pyramid schemes.
To be fair, I didn’t know what a pyramid scheme was at the time.
To be completely transparent, I never actually sold any insurance.
Way back then, I was too young and too green to be embarrassed about it.
I kept hope alive that that opportunity would work out for me in the end.
I’d wanted another job on the side, but I hadn’t completely committed to getting rid of my debt.
To date, I have (1) credit card debt + (2) a car note + (3) and student loans.
Since I’ll be paying student loans off forever, I’m pretending that I’ll be “debt free” once #1 and #2 are done.
Don’t judge me. Continue reading “5 Things To Consider Once You Commit To Eliminating Debt”