Live like you are going to die today. Save like you are going to live forever. Its a great quote.
When I grew up, there were very few colleges ( Professional / Non-Professional). Entering was purely on merit and the money wasn't high. Today, there are tons of Institutions..but then, the fees to get in and complete studies has also sky rocketed. Even schooling has become expensive.
Imagine how much money you'll need to send your kids to school / college when they grow up? Why not invest ? Banks ? Stocks? What to do?
With the interest rates the way they are today, my opinion would be to invest in stocks.
Here are some tips for you:
When I grew up, there were very few colleges ( Professional / Non-Professional). Entering was purely on merit and the money wasn't high. Today, there are tons of Institutions..but then, the fees to get in and complete studies has also sky rocketed. Even schooling has become expensive.
Imagine how much money you'll need to send your kids to school / college when they grow up? Why not invest ? Banks ? Stocks? What to do?
With the interest rates the way they are today, my opinion would be to invest in stocks.
Here are some tips for you:
- Go to a good broker ( online / brick and mortar).
- Go by references ( Word-of-mouth , Websites).
- Find out the fees (commissions) etc.
- Start by investing around 100-200 every month. ( Come on - you can attempt - Cut down a little bit on other expenses)
- Buy small denominations (Small lots) of good stocks ( Big established profit making companies).
- Accumulate / buy new companies.
- Don't get greedy. Objective here is to beat the banks by a few points.
- Sell if that objective is achieved.
- Recycle the money.
Greed will take over unless you take care. So be careful. Take care of your future.
6 comments:
Neat tips, really! Guess I need to start right now. What's your opinion about Mutual funds...they are very popular here right now!
Very good post. I have a stock portfolio myself (but have to say, did it quite unlike the way you outlined it should be done) and when my friends ask me, I always advice them to go the way of stocks. I was thinking of a post along the same lines but I guess you got there first. :)
Ravi,
I am not sure where you are.
IMHO - Stocks are much better if you are careful .
Also, the Mutual funds industry in the US has had all kinds of issues the last 1 year ( In case you live in the US).
Dear Lastblogger.
Thanks for your comments. I believe in investing in good companies. I also feel stocks are good.
Thank you
Hi,
thanks for the suggestions. I'll try to implement them soon.
By the way, I love Viks too. I've been there a lot of times. I like their Kathi (a sunday only special).
Good blogging, keep it coming.
Thanks Saranyan, I appreciate your comments. Its a Monday...and I missed Vik's today.
I like the Kathi too.
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