We are definitely in some times of great uncertainty right now. The housing market is in shambles, the stock market is not much better and more than ever people are questioning the government's ability to bring us out of this situation. Well to be quite honest, no matter who gets elected this coming November, no matter how much change each respective candidate promises us, the real change is not going to happen until we decide it to happen.
So how are we supposed to accomplish this change?
A change can start right now when you commit to investing in yourself. As I have tried to explain in the previous articles, we are our most important asset because we each hold unlimited potential to what we can accomplish. Due to this, we should use our potential to accomplish our goals by investing in our future.
- Take calculated risks
- There is a difference between an investment and gambling. Note the differences in the definitions below:
- Investment: the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value. (Source from Dictionary.com)
- Gamble: to stake or risk money, or anything of value, on the outcome of something involving chance (Source from Dictionary.com)
- There is no mention of "chance" involved in investing which means that with a sound investment strategy, you are almost guaranteed a reasonable return on your money. Understand that one must invest in knowledge on your different options for investing and the risks associated with each option.
- Give 110% in everything you do
- I always like to think of the saying "Go hard, or Go home!" when I am not feeling as motivated about doing work. It is a classic statement because it is so true. Unfortunately, we all get tired and lose motivation every once in a while, however, we do not get a second chance at life. If we do not push forward and do the best we can everyday we have the chance to, there is no telling of what opportunities we may miss. We should never be mad at ourselves if we have done the best we could and gave it all that we got!
- Help Others
- Paying it forward may one day pay you back.
- If you ever receive the opportunity to help someone out, take advantage of it and do it. We never know how some day that person (or someone else) will return the favor. Also, must realize that we are very fortunate to offer assistance to someone else because with the state of this economy, we never know when the shoe will be on the other foot.
As the quote says at the beginning of this article, there are three types of people...which one are you?
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1 comment:
I am and have been all three people depending on the situation. One of the best pieces of advice I have ever been given was sometimes the best thing to do is nothing at all. The problem with investing is we are dependent on corporations doing their part in being honest and trustworthy. Over the past decade we have not been able to count on that being true. time and time again we have seen the greed of a few rock the stock market and undermine the confidence of investors both big and small. The definition of investing holds true more so now than ever, unfortunately the outcome is not by chance, but rather a manipulated one controlled by greed. In todays market an investor needs to be careful of the company they are buying. There are many casualties of the current situation that can be held long term and make money for the investor. This is a time of bargain hunting, however, due diligence on the investors part needs to be done. Read about the companies financial strategy and if makes sense go for it if it doesn't stay away.
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