When playing monopoly we can all be fearless real estate gurus and make bank. Why is this? Well yes it's a game but more importantly because we play the game of money without emotion's..... What can we learn from this?
Mixing emotions and money has never been a good idea. Those who dislocate there emotions from there decisions with money play the game. Those who let there emotions get the best of them are the ones getting played. I mean seriously its only paper. As children we all played monopoly, I bet you could remember building a fortune and very quickly. I always liked the game, and ive tried just about everything you can try when it comes to investing. Ive failed ALOT of times and usually it was because i got emotional.
Now if you look at me Im 23 years old, i can go broke another 300 times and probably be alright, in fact better off. Every time i failed i learned a very important lesson that helped me fail again but this time in a different way and so on and so on. If you are not losing your not playing. Yes if you don't play you don't lose , but you can't win either. When im investing i keep the same principles that i use in my everyday life. Separate your self from the crowd. Now lets take a look at the stock market. The stock market can be a very good tool to make your fortunes, there are many ways to play this game market analysis, reading piles of spread sheets and earnings reports and trying to guess what's going to happen next. For the stock market you need a very high tolerence for failure. Typically the average day trader loses more then he take's.
It's volatile and not very transparent. In fact you have no control at all. I like to play for fun instead of buying $300 jacket ill play 300 in the market and so on and so on. Never listen to any mass media when investing in the market. If you have a financial advisor and mutual funds that when you lose eat 100%, but if you win then they take responsibility and take a share for themselves, you should probably think again. Let's get to the investing that i enjoy, its a little slower also very lucrative and a hell of a lot safer. My philosophy is very clear, buy real things. If you can see it touch it or even smell it it's better then a number getting typed into a computer.
You hand a man your life savings and you get a piece of paper. Woohoo! When buying real things such as hard asset's(gold,silver,oil) ,real estate, investing in small business you tend to hold on to the money longer. All of the riches families in history own real estate business's and deffenitly some hard assets. Diversification in the stock market to me is not having a basket of stocks that are in all different sectors. How is this any safer or even diversified when you have all your money invested into the same thing, the stock market. You need to spread your money out through out different markets and play them all.
Im not going to get into investing too much rite now, but the point im trying to make is don't follow the crowd also in money playing, and this is the one thing in life i recommend keeping your heart out of.
Now get out there and lose some money learn and do it again!
I AM NOT A FINANCIAL ADVISOR. EVERYTHING STATED IN THE PARAGRAPH ABOVE IS MY OWN OPINIONS, AND IN NO WAY SHOULD BE USED TO MAKE A FINANCIAL DECISION. PLEASE DO ALL OF YOUR OWN RESEARCH WHEN INVESTING.
Now if you look at me Im 23 years old, i can go broke another 300 times and probably be alright, in fact better off. Every time i failed i learned a very important lesson that helped me fail again but this time in a different way and so on and so on. If you are not losing your not playing. Yes if you don't play you don't lose , but you can't win either. When im investing i keep the same principles that i use in my everyday life. Separate your self from the crowd. Now lets take a look at the stock market. The stock market can be a very good tool to make your fortunes, there are many ways to play this game market analysis, reading piles of spread sheets and earnings reports and trying to guess what's going to happen next. For the stock market you need a very high tolerence for failure. Typically the average day trader loses more then he take's.
It's volatile and not very transparent. In fact you have no control at all. I like to play for fun instead of buying $300 jacket ill play 300 in the market and so on and so on. Never listen to any mass media when investing in the market. If you have a financial advisor and mutual funds that when you lose eat 100%, but if you win then they take responsibility and take a share for themselves, you should probably think again. Let's get to the investing that i enjoy, its a little slower also very lucrative and a hell of a lot safer. My philosophy is very clear, buy real things. If you can see it touch it or even smell it it's better then a number getting typed into a computer.
You hand a man your life savings and you get a piece of paper. Woohoo! When buying real things such as hard asset's(gold,silver,oil) ,real estate, investing in small business you tend to hold on to the money longer. All of the riches families in history own real estate business's and deffenitly some hard assets. Diversification in the stock market to me is not having a basket of stocks that are in all different sectors. How is this any safer or even diversified when you have all your money invested into the same thing, the stock market. You need to spread your money out through out different markets and play them all.
Im not going to get into investing too much rite now, but the point im trying to make is don't follow the crowd also in money playing, and this is the one thing in life i recommend keeping your heart out of.
Now get out there and lose some money learn and do it again!
I AM NOT A FINANCIAL ADVISOR. EVERYTHING STATED IN THE PARAGRAPH ABOVE IS MY OWN OPINIONS, AND IN NO WAY SHOULD BE USED TO MAKE A FINANCIAL DECISION. PLEASE DO ALL OF YOUR OWN RESEARCH WHEN INVESTING.
