0Posted by Michael Glass on November 24, 2011 at 11:07 am
Top Ten Resources
to Begin Investing
in the Stock Market
In a time of economic uncertainty, we all have to take stock of ways we can provide for our families both in the present and down the road. Here at Move Up With Mike, we always advocate everyone pursues a path towards financial literacy. Financial Literacy involves the ability to make informed decisions about your personal finance. So, we are often asked about the best way to begin investing in the stock market. So, we put together this list to help you begin your path to becoming a successful investor.
Here are our Top Ten Resources to Begin Investing in the Stock Market
#1. Stock Market Education – An investor needs to take the time and educate themselves about the stock market. There are so many different types of investment vehicles. It is very important that you take the time to find the best one for you. This takes time and dedication. Here are some books we recommend to help you through the process..
#2. Trading Systems – Now that you have taken the time to educate yourself about the stock market, you can put the time into finding a good system to follow. Of course the important point here is to share that is that you find a system that matches who you are as a trader. It takes into account how much money you have, how much money you can afford to risk and how much you want to make.
#3. Stock Market Training – Having a Trading system is just half the battle. What is even more important is the ability to develop a trader’s mindset. The #1 reason traders fail at investing in the stock market is a lack of control of their emotions. Allowing your emotions to be involved in your trading decisions is a definite way to blow out your account.
1Posted by Michael Glass on June 16, 2011 at 5:06 pm
For years, we taught our kids to get good grades, go to college and find a high paying job. For those who were not able to got o college, they were still able to find good middle class jobs working at the local factory. Whether you went to college or worked in a factory, you were still able to provide a comfortable lifestyle for your family. However, with the invention of the internet, The industrial age is long gone. We are now in the information age where creating information is the key to becoming rich.
We are currently in a global economic downturn. Businesses are not hiring or investing. The Housing market is in shambles and countries around the world are going bankrupt. How can a consumer protect themselves from all of this financial turmoil.
Financial literacy is the ability to make informed decisions about your financial futures. Financial literacy is a very simple word, which is often ignored by a lot of people. But, these two simple words are the reason why 90% of workers are struggling to get ahead of the Rat Race. Living from paycheck to paycheck and never able to save up enough money to fulfill their financial dreams.
Now more than ever, You need to learn how to manage your finances properly and use it to empower your financial future. Becoming financially literate will help you build a better and brighter future not only for you but for the succeeding generations. Even during this global economic crisis there are people acquiring wealth on a daily basis. In fact, during the Great Depression, more millionaires were created than in any other time in American History.
You might not be able to change your financial path overnight, but you can change your direction.
1Posted by Michael Glass on April 17, 2011 at 8:50 pm
What is Financial Literacy?
Financial literacy is the ability to understand finance. The President’s Advisory Council on Financial Literacy defines personal financial literacy as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.” Personal Finance is the ability to apply your financial literacy skills to your own situation. It more than just being able to balance a checkbook, although since online-bill pay, how many people still utilize a checkbook. Learning about money and how it works is an important aspect, as is understanding products like credit, loans, and insurance. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day.
In the US, we make great efforts to teach children to read and write, but we don’t give their financial literacy the same attention. As a result, few young people know how to to manage their personal financial lives. Rich Dad, Poor Dad by Robert Kiyosaki is a great resource to learn about the importance of financial literacy. You can also find some great resources for teaching kids about personal finances at Practical Money Skills.
In this video, we focus on how to become financially literate with regards to the stock market. We discuss key vocabulary terms that any trader should know. We also discuss the basics of trading.
Watch the Video Below to learn more about What is Financial Literacy: