We all want to have enough money to be happy from today until the day we leave this earth. Enough, is a carefully used word. For some people, enough is the amount of money it takes to just have what is needed, for others it means being wealthy and making a LOT of money.
Becoming wealthy requires a huge change of thought. There are some simple tips to follow if making money and becoming wealthy are a priority in your life.
Thinking differently about money. Money is not something that should come and go in your life. When trying to become wealthy, it is important to save at least some of every dollar you earn. Saving this money will allow it to grow and thus increase your wealth.
Think small. The smaller you think in regards to saving money the better. Very small amounts of savings here and there will go unnoticed in the house money needed to survive. But, those amounts will add up and add up quick.
Buy your freedom. The money you need to become wealthy will not appear out of thin air. You will need to buy your freedom by saving money on those extras you really do not need. The $20.00 spent here for a trinket or that $40.00 you spend there for something else are the monies that can move you from independent to independently wealthy.
You are the one. The only person that can be held accountable for your financial placement in life is YOU! You are the one that needs to make making and save money, no one else.
Buy stock. One of the main aspects of becoming wealthy is making your money work for you. The only way to do that is to buy stock in the company. So the next time you want to spend that $100 on dinner, step back and buy a share of stock in the controlling company of the restaurant.
Look at the success of others. In order to best learn how to become wealthy, you will need to look to the successes of those who have accomplished the goal. This does not mean looking toward the celebrities, but the every day Joe’s who have earned more and saved more.
If your goal in life is to become wealthy, you can achieve that goal. All it takes is time, saving, investing, learning and more saving. Then, if you have a little more time lying around, you can save a little more.
By: Elliott Roberts
Posts Tagged ‘Buy Stock’
How to Make Money and Become Wealthy
February 14th, 2010How to Make Big Money in the Stock Market
November 12th, 2009
The average in investor is usually satisfied with a 10% to 15% return on their money and ecstatic if they get an annual return over 20% on their stocks. However, what if you were told how to make big money in the stock market every day, not just annually? That would be exciting. You can, but it’s not that easy to do. The people that earn the big returns are day traders or short-term investors. They search for opportunity of dips in a stock and buy it low or look for stocks that are ready for a breakout increase. Once it goes back to its average price or rises, they sell, but they do it daily or at least on a weekly basis.
If you pick any stock and look up the closing price, it usually tells the stock’s high and low for the day. All the day trader does is look for stocks that repeat the pattern and place a limit order to purchase it at the low. Once they put the order in place, they wait. A limit order is nothing more than an order that says, “I’ll buy the stock for X dollars a share but won’t pay more.” When the stock hits that price, the limit order takes place for the price you set or lower, if the stock dipped lower before the broker completed execution. If you chose to short term trade, the limit order is an integral part of the equation. Once you own the stock, check the upper range of the pattern and place a limit sell order for your stock. Automatically it’s executed at that price. Seems simple, right? The key is finding stocks that behave in that fashion.
You may still ask, “How do I make big money in the stock market when I can only afford a few shares of Exxon Oil or Microsoft?” The answer is not to buy them. The larger blue chip companies are frequently safer, except for rare occasions when stocks like Enron fool even the experts. The fact that they are safe means they aren’t as volatile as smaller companies. You want the volatility, but a predictable volatility if you want to make big money in the stock market. The higher the risk, the higher the reward becomes. You need to choose stocks that move up and down in a pattern on a daily basis, or weekly curve that is at least a 10% to 20%. These are usually smaller stocks that take a big percent gain or loss when the stock moves a few pennies.
Big money in the stock market doesn’t mean you have to invest big money. Penny stocks are affordable to even the smaller investor. If you buy a stock for 10 cents and it gains just a penny, you made 10 % on the transaction. When you repeat this process using your original investment and profit, then the profits grow exponentially and you see the big money from the stock market that you always heard about. Since stocks don’t always behave the way they’re supposed to behave, it’s always wise to set back half the money you made, at least at first, so you have money if the stock trade goes sour.
Finding the stocks that behave in this fashion isn’t easy, but no one said it would be. If it were easy, everyone would do it. You have to study the market and find individual stocks and watch their behavior for patterns. You have to learn to read the charted indicators and understand how they work, or you need a stock service or computer program that does the job for you.
By: Gilbert Stockton
