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Unless you have very special marketable talents, two of the few legal
ways of making a fortune aside from winning the lottery, is to start a
business or start investing. Starting a business is thought too risky
for most and as a business owner; you most likely have to work long
stressful hours. Many new businesses fail, and of those that do
survive, few really prosper. More people take to investing, in either
case, both business owners and investors want to provide security for
themselves and their families, increase their leisure time and
decrease financial worries.
Investments come in a mind-boggling variety. Investors for the most
part do not manage the organization in which they invest, but merely
contribute to it’s financing. They are less committed to the
organization than the owners themselves and they can control their
level of commitment by buying larger or smaller stakes. Mutual funds
are popular because they spread out your investment by buying shares
of several companies in several sectors, thereby reducing the overall
risk. As we are well aware 9/11 added another dimension to this
theory, as well as the publics increasing distrust with large
corporations and their questionable financial disclosures. With stocks
there is a normal day-to-day unpredictability and the professional
investors with the skill to consistently get the timing right are few,
get it wrong and you can loose a lot of money in a New York minute.
A better approach to the risk problem is to avoid investments that are
volatile, concentrate instead on ones that offer reliable long-term
gains. You buy only items that are expected to rise in price steadily,
and you hold onto them for some years before you sell.
Ask yourself - What level of wealth am I aiming for? How quickly do I
want to reach this level? How much risk am I willing to take? And
last, how much time am I willing to devote to my investments?
If I can be of any help to you, your friends, relatives
or associates, please do not hesitate to
contact me. Your referrals are greatly appreciated. |
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