Most money advisers will tell you, when investing, to go long and go long term. Here, long & long term mean two different things.
Going “long” is the easiest understood of investment strategies and that is to buy the item cheaply and sell it expensively.
The Stock Market is understood by most people, at least at a elementary level. It is where people buy and sell ownership stakes in companies. Of course, each share typically represents a minuscule share in the ownership of a company, but it is indeed a piece of the action.
With this post I kick off a category on investing. First off, investing should be a part of every savings plan.
First, let me warn you, I am an information technology professional not a money manager or any such thing. I am giving suggestions for you to further investigate not to act on willy-nilly. Do not take any of these investment strategies/instruments lightly! You can lose serious amounts of money to ignorance on your part, the market itself, or unscrupulous third parties.
The cardinal rule is to not invest more than you can afford to lose. That means you need to invest out of savings not out of your emergency funds or the money you use to make your mortgage payments.
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Trying to change myself and you on thrift and savings! It is hard to save save save in a spend spend spend world, but it is better to save than spend!
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