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"How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
Robert G. Allen
I have a problem with too much money. I can't reinvest it fast enough, and because I reinvest it, more money comes in. Yes, the rich do get richer.
Robert Kiyosaki
Well, real estate is always good, as far as I'm concerned
.Donald Trump
The rich get richer. Not only because they have surpluses with which to invest, but because of the overriding emotional release they experience from having wealth.
Stuart Wilde
"A steady job and a mutual fund is still the best defense against social security."
Author Unknown
"Money can't buy happiness, but it can buy you the kind of misery you prefer."
Author Unknown
The Single Woman's Guide presents:
Listen to Rini !
(thesinglewomans investment guru.)
A Self Made Wealthy Retiree Answers Your Questions!
She realized that all the excitement and the opportunity was out there, on the trading floor, where it was possible to become very rich, or totally broke, depending on the price of a particular stock at the end of the day.
The only way to make that leap, from the back rooms to the place where the decisions were made, was to study to become a stockbroker and financial consultant.
That was the best decision she ever made.
It led to a position which was challenging and rewarding. One that made her happy to get up in the morning before most of the city was awake, and prepare for a day in which nothing, absolutely nothing, was predictable!
Send your investment questions to Rini! She will anwer one question a month on these pages.
Email Rini at : vi.paris@shaw.ca
(Sorry, spammers make a direct link impractical.)
Dear Rini,
I have $1000 to invest and want to try the stock market. Should I do it by myself or with a broker? Which would be most beneficial for me? How do I do it by myself? How do I choose what stock to buy?
Thank you,
Wendy (Montana)
Dear Wendy,
You have $1,000 to invest in the stock market and are wondering where to begin .
Since you are new to the investment scene, you need some practical help, so I suggest that you open an account with a reputable brokerage firm.
Whatever you do, do NOT choose a discretionary account, that is one in which the broker can decide what and how to trade, WITHOUT CONSULTING YOU. We have all read horror stories about individuals who have lost thousands because of unscrupulous brokers who trade, without calling their client for instructions, merely to generate commission for themselves, regardless of the losses they cause.
You have a modest amount to invest, so you will probably not be assigned to the high powered star of the company, but that is not necessarily a bad thing. Some of those who are fairly new to the business can be very helpful, they have access to all sorts of research information on listed companies. They have more time to spend discussing your options, and since they are serious about building up a client base, they are willing to devote time and energy to helping you.
I should add, that if at any time, you find that you are not compatible with the broker you have been assigned, you can change over to another one within the same company, or for that matter with another brokerage house. Don't feel intimidated, after all it's your money, and you are the one who decides what to do with it.
At this time I should caution you against on line trading. This is not for individuals who are just starting out. At this time, you have to be able to sit and discuss your needs with an informed person. Maybe sometime in the future, when you are more confident, and know exactly what you want to do, it would be worth looking into, but for now, take the small steps.
I wish you success in all your future endeavours.
Rini