Having a Problem investing your earned money?
By exkrima
@exkrima (291)
Philippines
August 16, 2011 8:34am CST
Why don't you try Mutual Funds, if you don't have enough money or lump sum. Why don't you try doing cost averaging, Cost Average is what they called in the stock market. when the Market is up or when the market is down. It is risky but this is life everything is at risk. So back to my question where do you plan to invest your money?
1 response
@diala84 (138)
• United States
16 Aug 11
I have been investing in stocks since I was 18. Now I am focusing on dividend stocks to try and get a bit of a secondary income. There are risks and I have definitely lost some money making bad decisions but for the most part I have come out ahead. That is why starting young is so important so you have the time to make mistakes and rebound from them.
Sometimes I find it is easier to think about it more like a lottery ticket.
Some people by a lottery ticket a couple times a week. The lottery has terrible odds. Why not take that money and buy stocks. There is potential for making a lot of money or losing it all but the odds are better than the lottery ticket. And you can get the money back later as long as the company doesn't completely go under and even if it does chances are you will have invested in several companies. What are the odds each company you invest in closes down. Pretty small chance. You can even increase your odds by doing research and selling your stock when you want to to make the most profit. That can't be said for the lottery.
@exkrima (291)
• Philippines
17 Aug 11
So True! Betting in a lottery is like also 1:million chance to win, if you can spend 40-100 pesos a month that is equivalent to 480 to 1200 respectively, if they only put it in an investing company that money would have grown to couple of % if they put more and more money into it and apply compounding interest it can even grow in a million or more. Most Filipinos did not think that betting is also a form of spending, though in fairness at least they are trying their luck but still if you can spend 100 pesos month and willing to risk that kind amount of money, then why don't they try investing and saving it. Saving in a bank is a start then invest it as long as you know what you are doing. You are lucky to start in an early age. You can still risk and have some many opportunities. Me too bought some stocks in a market and planning to grow it for years. So it will be Good Luck for both of us. Cheers!
