“Hi Arnel, I was told by my wife about stocks and I’m very delighted to put my little savings and have it grow. We also knew that the stock market is the best investment avenue to multiply it with compounding interests. I don’t want to be late because I’m already 35 years old. How can I start quickly since I don’t have any idea about this industry?” – Alex Yu, Lahug, Cebu
Stock Market has already become the “talk of the town” and surprisingly it is gaining popularity throughout the country today. Everyday, people from different walks of life are opening accounts from various brokerage firms, as it is no longer an alien to the public.
Thanks to social media, the power of the internet and word-of-mouth publicity! Slowly but surely, our stock market is now becoming a household-name.
To get started , you can also follow the step by step process here: Getting started in the stock market.
People have come to realize and have put their hopes that the stock market can make them millionaires someday and they can possibly retire with a comfortable life! This is one of our benefits today than what it used to be…
Few years ago, only “big boys” and billionaires can take advantage. But yesterday has long gone, opening an account has never been this easy and affordable through the presence of online brokers.
Almost everything becomes possible. With the cost of an average smartphones, you can already buy stocks of your choice.
Although it is very promising to hear it from people who have success stories in stocks, some have also turned their backs, promising not to touch the stock market again.
I’ve been investing for couple of years now and some of my friends are no longer doing it. Then, I discovered few things that makes it wrong. A reality-check you need to know…
How can you become a good investor? Read it here: How to invest in the Stock Market the Lazy Way
You do not have an Emergency Fund.
Investment by its concept is a “spare cash” or surplus that you will not use for a certain period of time. It is very alarming that many people started opening accounts and buying stocks without even having a saving yet. They are the hopefuls that are bound to fail.
Make sure to build first your emergency fund. It is okay to be late, as long as you were able to create a strong financial foundation. For me, it is very practical thing to do that everyone should follow.
If you will insist to start without a buffering fund, you will soon withdraw your money from your stocks at a loss if there are emergencies or bills pressuring you to be paid immediately. You will be left with no choice without other resources to go to.
To read more about Emergency Fund, you can click this blog: What it takes to build an Emergency Fund.
You just don’t get it!
If you don’t understand what you are getting into, that means that it is not the right place for you. When you are investing in stocks, you should be a believer; whether you are a trader or an investor believing that the companies you are investing in, can give you good returns.
That’s why we are encouraging everyone to do a due diligence to at least study the basics of the stock market and how does it work.
Just like any other types of business, you need to take a look at the opportunities and risks that comes with it.
You don’t have time for it.
Stock Market is not for everyone! If you do not have time to monitor your stocks, then you can find other type of investments somewhere else. Good thing about it, is that, there are other options that you can invest your money without doing much effort to check it.
Although stocks can give you promising returns, it’s riskier than any other investments. Market is volatile and stocks can go up and down so you need to be hands-on to monitor it.
However, if you only just want to do a long-term investing, unlike trading, the time needed is lesser. There are already tools available that you can check the performance of your stocks from time to time even if you’re in the office or everywhere.
I’m using PSE Qoute to get updates for real-time monitoring and Tsupetot a Philippine-based app that is very easy to use. If you know how to analyze a basic chart, you can also use PSE Tools or investagrams. They are very helpful with substantial information.
Do you want to read more? Click it here: Different ways to earn in stocks.
You want a guaranteed return.
I might disappoint you but I would say that there’s no guaranteed return in any type of investments! Stockbrokers, certified investment solicitors, and agents are even heavily-monitored and strictly-instructed by the Securities Exchange Commission (SEC) not to give assurance or guarantee of any profits or returns.
If someone is offering you something that guarantees, that can already fall to some form of an investment scam. We should always bear in mind that we need to be cautious. There’s no such thing as a guaranteed return. Period!
For any suspected investment scams or unauthorized agents, do not hesitate to report it to the SEC hotline: 584-6103,584-5703 or Enforcement and investor protection department: (02) 584-6337.
Read more on investment scams: SCAMMER SPOTTED: SHOCKING SIGNS OF A SCAM
You’re afraid to take the risk.
The higher the risk, the higher the return. The lower the risk, the lower the return. That is what I’ve learned early in my investing journey. Having a conservative profile, I started with very conservative investments but eventually, as my knowledge grew more, I began to look for high-yield investments and I even trade stocks to this day.
I believe that risk is everywhere and as long as you know what you’re doing, it will stay as a calculated risk. I failed in business 4 times already, got broke twice and it makes me realized that risk is what makes us humans. We are prone to mistakes but learning the lessons from it will make us wiser.
I understand that getting out from our comfort zone needs a bold step to take and understanding new things is sometimes scary to do, but stock market is not a rocket science. I’m glad to know that ordinary citizens are now doing it from teachers to janitors and maids. You can do it too…
What you need to do is to start right and start one step at a time!
Akalain mo, may practical tips ka pa lang mapupulot sa pelikulang “Kita-Kita”!
Bago mo panoorin, basahin mo muna ang blog ko that has now become viral in facebook and google. Click it here: 10 money lessons from Kita Kita you can learn today.
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