Generally in the investment game people are very scared of making their own decisions. Even after they have seen their decisions work time and time again they still don?t want or are too unsure of themselves to make and accept responsibility for the decisions they make.
It is great when you have someone to blame if something goes wrong with a share investment. Unfortunately someone to blame after you have lost money on the basis of what they have said or done is of little financial consolation to you. Your money has gone. Is there anyone that has more vested interest in you making money than you? I don?t think so. Shirking your responsibility in this regard and it could well be a serious wealth hazard for you.
You can fix a reluctance to make and decisions or a lack of knowledge by teaching yourself how to make your own share investment decisions. How do you do this? Simple by learning an investment approach that you have seen works over a period of time. Not just when the market is climbing but also when it is in a downward spiral. There?s no lack of investment advice or methods on the internet but it?s important that you find one that works for your circumstances.
Next make sure that you get plenty of practice at it without risking your funds so that when you do invest your real money you are confident that you will get a much better return then the average.
Unfortunately throughout my investment career I constantly came across people who could or would not seeing brokers, financial advisors, journalists and entertainers for what they are.
And worse still. Believing what they say.
Think about it
Brokers are commission sales people. They make their money from the brokerage they earn from placing trades on the share market. They do not make their money from making you money.
Financial advisors make their money either from fees for consulting to you and/or commissions from placing your money into managed funds. They do not make their money from making you money.
Financial journalists write news stories about financial matters. That?s how they make their money. They do not make their money from making you money.
Financial entertainers make their money from being on television and from product endorsement. They do not make their money from making you money.
Again teach yourself how to invest successfully with a method that has been proven over time. Test the method before placing your money at risk and then enjoy the satisfaction that it is all done by you. Not through the aid of brokers, financial advisors, financial journalists or entertainers.
About the Author
Learn more about Successful Investing or download more information here. Phil Wengier has been successfully investing in financial markets for over 30 years and is the owner of several companies. In particular, Saratoga Pty Ltd has been on the Internet since 1996 helping many who wish to discover how to invest safely and successfully. Feel free to subscribe to my Savvy Investor newsletter here
Written By : Phil Wengier
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