Action Alerts Plus will increase your investing success and transform your portfolio from mediocre to exciting. It often makes me 20% on every investment I make as long as I am patient. To learn more about it, click here. Tim is the author of elementary-finance.com, a financial blog providing beginning investment and finance advice to those who have a desire to learn the basics of investing and finance.
Sunday is football day, Saturday is boxing night, and just about any night can be hoops night. Sports is the American past time. Open that up to our world and we can say with confidence that there are very few people who don’t follow at least one sport. One thing we know for sure is that in order to succeed in sports, you have to have a strategy going in to the game. Why is it that if you ask the average investor what their investment strategy is, they won’t have an answer?
The sad fact is that many of us leave good sense at the door when we start investing. If I had $5 for every time I have answered the question, “what investment will allow me to triple my money in a year,” I wouldn’t have to invest myself. What kind of real world sense does that make?
If you went to your boss and asked them to triple your salary, what kind of answer would you get? You would never do that because the world doesn’t work that way but as soon as we get a few dollars saved up, we’re ready to find that cheap penny stock thinking that it’s going to go from 40 cents to $20 in a year.
So here is your first investment strategy: Develop a realistic perspective. 300% isn’t possible but 25% isn’t out of the question if you work hard. The fact is this: You probably need some help.
If you don’t have an investment strategy, you may need help developing one. Consider subscribing to a service like Action Alerts Plus where an expert like best selling author and CNBC commentator Jim Cramer is doing your research for you and all you have to do is buy and sell when he tells you to execute the trade. My secret is that I don’t have enough time to do all of my research so I let Action Alert Plus do it for me. This research is fact based and while opinion is offered, it is always heavy on fact so you have the tools to make your picks.
Just like sports, a strategy has to be employed. The first part of the strategy is to be realistic. The second part is to ask for help in developing that strategy.
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