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One step at a time… There is now more information than ever about every imaginable investment topic. It is everywhere… on the news, in the newspapers, on the internet, and even at cocktail parties. Who should you trust? How should you spend your precious time? You know you need to know more, but it can feel daunting as to where to begin.
Regular reading daily or weekly updates on overall market conditions is important. It helps you to stay current and focused. If a regular routine does not exist, then before you know it, another quarter has passed. Reading on a regular basis keeps investing on your mind, and frequently presents new ideas. A clear and decisive plan including what you will read and when you will read it helps provide the discipline necessary to make it happen. You may want to schedule reading time on your calendar just to make sure it happens. The great thing about this is that after only a few months of weekly reading, you will begin to feel empowered with knowledge. This will move you forward, and lead you to wiser decisions. Knowledge will make it easier for you to act.
A great place to begin is to decide how much time you want to spend learning about money. Do you want to spend one hour a week or three hours a week? Is there a way you can fit this important habit into your schedule? Make a lifelong commitment to increase your investment knowledge every week. This can be as simple as reading a weekly publication while you are on your exercise equipment, or instead of that juicy novel at bedtime. (The financial publication is guaranteed to help you fall asleep faster!) Perhaps reading a brief daily business news update for 5 minutes received via email each morning or evening works best for you, along with an hour over the weekend reading a weekly or monthly publication. The local library is another resource. Does your schedule permit dropping by the library with a fresh latte daily or weekly to read a financial publication? Make it fun, and make it suit your lifestyle! You will immediately feel empowered!
Think about your level of commitment, your time, and how you best learn. Next time, I will write about some of my favorite publications and what to expect from each, so you can get started.
This information is for educational use only and is not financial advice.