Investors have 8 big money matters to deal with, money, income, debt, saving, spending, investing, risk and time. To make money work we must deal with these matters! Making a plan makes you a money making investor.
Money strategies – planning & managing wealth, Lesson 3, covers the money matters investors manage to grow wealth. Links at the lesson end guide you to related content to learn more.
What’s in this lesson for me?
Knowing what you need to manage makes you aware of the most important money matters. Focusing on them helps you become a successful investor. That helps you grow your wealth.
Time for the money talk!
To be an effective investor you must think through your approach to money and matters related to it. The 8 money matters for investors are: money, income, debt, saving, spending, investing, risk and time. Each of the 8 money matters needs your attention. You have to understand each and put in place your plan to deal with each.
Only then can you begin to invest well. Trying to invest without a plan is financial roulette with the table tipped against you.
Get yourself ready to learn
Learning to invest can not happen until you are ready to learn. That may seem obvious, however, my experience suggests that it is not. Especially for anyone intending to learn how to invest to improve the performance of their portfolio.
I say this after years of meeting with numerous people. Saying you want to learn how to invest is a start; but you actually have to do something.
After several years of spending many hours with many different people and seeing little change in behavior I grew frustrated.
So I changed my approach. I still readily agree to meet with people but immediately assign some reading. Any introductory piece will do. Their task is to prepare questions. The follow up discussions produced progress and change. That produces results.
The key being they had to do something. So do you. If you want your investments to produce better than the mediocre results experienced by most people, do something about it.
You can learn how to produce abnormal results. Why be normal if normal means getting poor results?
The normal investor has a history of poor to mediocre performance. Why? They are poorly served by a financial industry that does not make their success a priority. Many, I would venture to say most, who run their own accounts have mixed to poor outcomes.
There are exceptions, but most that have their funds professionally managed get mixed results at best. Compared to what is possible most do not do particularly well.
With a little effort, and knowledge of the big 8 money matters, you can significantly change that.
It will take time and effort, but it can happen. Give yourself the opportunity to succeed as an investor. Make the effort and the rewards can be substantial. I know it is possible.
It takes time, a lifetime to learn, grow and prosper. Than being the case we should get started today!
Five parts of the process of learning to invest
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Simple to complex – learning is a process, it takes time
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Arrange your affairs – be financially ready to invest
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Accept responsibility – you are in charge & responsible
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No one answer – simple magic bullets can be fatal
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Ever changing environment – change is the constant
In future discussions each of the 8 money matters for investors point can be explored further.
Why this lesson matters
Understanding the 8 big money matters gives you a broader view of markets and investing. Knowing and dealing with each of the money matters establishes a base for managing your investing success. Dealing with each money matter makes you a better wealth builder.
Takeaways from lesson 3, 8 Big money matters, includes:
Investing strategies taking profits challenges many investors. Best results come from letting winners run while selling losers to buy more winners.
- Become a better investor by knowing when or if to take profits.
- Let winners run when markets are rising.
- Don’t fall into the fear trap that makes you sell too soon.
- Think like the wise merchant the buys more winners.
- Sell your losers and buy more winners.
- Be exceptional – take the full ride with your winners.
- Trim the weeds, water the flowers.
- Take the lesson on portion control.
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Course links to White Top Investor lessons.
Related to: 8 Big money matters
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Comments and questions welcome
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Make money work for you
Use White Top Investor lessons to learn investing. Then, grow into a knowledgeable, comfortable and confident investor. In fact, you can learn investing one small step at a time at your own pace. Do that and become the master of your financial security and independence. White top Investor never sells or shares our email list. Learn more.
Money strategies, lesson links:
Introduction to Money Strategies – Planning & Managing Wealth
Lesson 1
Investors and traders ride growth
Lesson 2
8 Big money matters
Lesson 3
Nelson Mandela touched investors
Lesson 4
Market time grows money
Lesson 5
Stock market dip opportunities
Lesson 6
Investing strategies taking profits
Lesson 7
5 Money making strategies
Lesson 8
Investors can deposit and WAIT!
Lesson 9
Change moves markets forward
Lesson 10
ETF Revolution changes investing
Lesson 11
Benjamin Graham market mix
Lesson 12
Next lesson 4
Nelson Mandela touched investors and all humans with his message. He taught us that we can change. We can change hate, futures, opportunity and investing. We can make change happen.
Have a prosperous investor day!
Bryan
White Top Investor
[email protected] WhiteTopInvestor.com
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