What goes up fast comes down fast! An adage long applied to investing by those most successful in the financial arena. Today’s economic worries lie in a multitude of reasons; only one of which is that far too many people, financial professionals as well as laymen, forgot or choose to ignore the wisdom in that saying.
A penny saved is a penny earned still holds true today – but where and how you invest that penny is undergoing considerable reevaluation. Financial institutions (banks, credit unions and the like) are giving increasingly lower interest rates on your money; what was a wise investment a few years ago is foolish today.
An Unconventional and Comprehensive Guide to Everything Investing was written to provide basic solid information for the nonprofessional investor and/or those thinking about taking control of their personal finances. As author, K.C. Staar, can attest from personal experience, relying on a top-notch professional to increase your retirement wealth or personal finances can be just as risky as doing it yourself.
K.C. Staar makes sense out of investing! In easy to understand terms, he uncloaks the mystery of investing and puts you on a conversational par with any investment advisor so you can ask the important questions and take charge of your future.
- Investing takes time – no magic genie is going to appear and give you all the answers. Wise and profitable investing requires time and effort. Time and effort spent researching all the options and determining which works best for your circumstances; learning as much as you can about individual companies and their respective management teams, performing due diligence on the company and their competitors.
If you are one of many clients, your advisor can lose sight of your specific needs and goals and the results can be catastrophic. You need to understand exactly what your advisor is saying and be able to ask knowledgeable questions for every suggested action.
- Know the trends – markets are cyclical. Just because oil and gas stocks have shown an increase over the last year doesn’t mean they will do the same next year. Remember what goes up generally comes back down. Gains made throughout the year will be offset with losses. Knowing when to get out on a high trend will maximize your profits.
- Never count your eggs before they are hatched – There is no such thing as “a sure thing” when it comes to selecting your financial buys, sells and investments. Anything can happen. If you can’t afford to lose the money you’ve invested, skew your investment level down. Hitting the proverbial “home run” is extremely hard to accomplish; a 2% gain is better than a 2% loss. Remember, it takes time to make money. Greed is the greatest detriment to successful investing!
- Listen for tips – some of the best tips come from obscure places and under strange circumstances. When you hear a ‘hot tip’ start investigating the company; perform due diligence on the company, then make your decision. Remember: there is no such thing as “a sure thing” but with knowledge you can increase the odds in your favor!
An Unconventional and Comprehensive Guide to Everything Investing takes the mystery out of investing, presents the reader with tools and solid information and tactics to put the onus where it belongs – on the investor. K.C. Staar’s book is a must read for everyone that wants to have some control over their future.