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Kill The Noise!

About 3 months ago, I made a decision to stop watching CNBC and Bloomberg Financial News.  At the time – stock market junkie that I am – those were the only two channels I watched.

As it stands now the only show I watch on cable is “Silicon Valley“.

“Why did a stock market junkie stop watching the financial news?” you ask?

I stopped watching because I wanted to kill the noise you hear from the many pundits that appear on those networks.  The number of irresponsible comments and recommendations made by various guests on these programs started to make me sick.

One guy, whose name I can’t remember, actually told investors to get out of the market and try and get back in after the market moves lower.  That piece of advice is outright scary!  Listen…if anyone out there is capable of successfully timing the market, please let me know, so I can quit my job and help you raise as much money as possible!

This week has not been a great week for stocks…but I barely even noticed.

It’s not because I’m not paying attention.  I watch the market every day.

It is because I am not exposed to the sensationalism that ensues whenever the market moves lower.

My emotions are calmer, and the only thing I wish during this downturn is that I had more money to put to work.

One of the best things I ever did to become a better investor is to stop watching TV and kill the noise!

Until next time…

Did you get started yet?

costs

So…we are approaching the halfway mark in 2018.

After a bumpy start to the year, stocks have recovered, and prices are near all-time highs.

My question to you is: have you gotten started?  Have you opened your first account and bought your first stock?

If you have…congratulations!

If you haven’t…what are you waiting for???

If you’re trying to time the market…well, that’s impossible.

If you feel money is the issue, find something you can cut back on.  Or figure out a way to earn more.  There is always a way.

You may be missing out on the greatest wealth-building opportunity of your lifetime if you don’t get into the stock market.

I have a friend that, two years ago, didn’t know a thing about stocks or investments. She grew up believing that investing was for other people, namely rich people. She was programmed to think investing was like going to Vegas.

It didn’t take long for me to convince her that nothing could be furthest from the truth!

I taught her the ABCs of investing, and now she’s a full-fledged investor.  She doesn’t earn a lot of money at all.  But she’s made the sacrifices she needed to make in order to start creating wealth.

I would very, very much welcome your comments on this post.  If you started investing in a similar way to the lady I described above, I’d love it if you shared your story here.  If you haven’t started, talk about what’s keeping you from doing so.  I would love to hear from readers and get a conversation going!

To your wealth…

 

Need Help Getting Started?

Need help getting started with investing?

Know a friend, family member, co-worker, classmate, gym buddy…anyone at all who does?

In addition to my book, The Stock Market is For Everyone, I have now started the Wealthy Joe Investing Club, in which I take a hands-on role in your investing.

Please take a look at these two links and share with everyone you know.  We all deserve to be financially free, and I want to help people get there!

 

Self-Driving Cars, 2019

One of my favorite activities is getting behind the wheel of the car for a long road trip.  I love the scenery, and on a beautiful sunny day only a walk on a beach in Maui is more beautiful.

However…we are at the dawn of cars that can drive themselves.

Most people still believe this is science fiction, and that we are at least 20 to 25 years away from fully autonomous vehicles.

The fact is, though, that we are less than a year away from fully autonomous vehicles being rolled out for people to ride in in 2019.

Here’s some great research from ARK Investment.  They do a fantastic job in their coverage of disruptive technology.  I hope you enjoy the article.  Please share your comments!

https://ark-invest.com/research/autonomous-vehicle-adoption-forecast

 

Introducing Wealthy Joe Investment Management!

About three years ago, a very good friend of mine won a longstanding legal case that revolved around being wrongfully terminated.  The amount of the award wasn’t life-changing in any way, shape or form, but it was better than nothing. and gave her much-needed funds.

She asked me what she should do with the $16,000 she would have left after paying back personal loans to her mother.  My advice at the time was to take the entire $16,000 and invest it.

She knew absolutely nothing about investing, so I told her to create the account and provide me with the user name and password, and I would take over from there.

Now – I must remind you that I eat, sleep and think about investing.  If it were up to me, the market would be open seven days a week.  That’s how much I enjoy it.

Before I made my first purchase, I thought long and hard, because I treated her money like it was mine.

I asked her what her financial goal was, and when she would need this money.  She did not have any money saved for retirement and did not need the money in the near future, so my game plan for her was to be ultra-aggressive and invest in high-growth companies.

I invested in the same companies that I would have bought for myself if the account were mine.  In the 3 years I managed the account, the value went from $16,000 to over $60,000. 

Watching her account grow made me as happy as if it were my own.

It wasn’t until recently that I asked myself: Can I do this for other people?  And the answer I came up with was: yes, I can!

Look, you can invest in a mutual fund.  And if your company matches, you should invest in its 401(k).  However, you should always invest in individual stocks.  No 401(k), no mutual fund on the planet, will ever be able to compare with the growth of an individual stock.

But if you’re like many people, you don’t have the time and/or the inclination to research companies and select your own stocks to invest in.

You can now outsource this task, to me.

For only $10.00 per month, I will actively manage your investment account as though it were mine.

If you are interested, please email me at wealthyjoeinvesting@gmail.com to get started.  Also, please reach out to me with any questions and/or comments!

Think LikeThe Super Rich!

Last week, or the week before, it was announced that David Tepper, the legendary hedge fund manager, was spending $2.3 billion of his hard-earned cash to buy the Carolina Panthers professional football team.  This is a record purchase price for a sports team.

Most of you could probably care less about this.  But I’m sharing it here for a reason: in my view, this move is indicative of how wealthy people think, and how they act.

I wrote a post back in April called “Put Your Money To Work!” I find it fascinating that it’s so difficult for the average Joe to adopt this mentality.

Think about it for a second, if you will.  David Tepper does not need the money.  He’s worth about $12 billion, which he couldn’t spend in 10 lifetimes.  So…why did he purchase the Panthers?

Two reasons.

One…I must admit, what could be more fun than owning a professional sports franchise?

The second, and more important, reason was to park $2.3 billion and put it to work.

Professional sports franchises have proven to be phenomenal creators of wealth over the long term.  It’s not out of the realm of possibility that the franchise could double in 10 years.

That’s my main point!  Wealthy people are always looking for ways to put their money to work…no matter how rich they already are.

Now, I know us average Joes have nowhere near that amount of money to put to work,  But we have to become copycats and emulate the habits of the wealthy.

Whenever you have extra money – whether it be income from work, a bonus, you hit the number, win a lawsuit, hit the lottery, or your long-lost uncle leaves you a wad of cash – please settle all credit card debts, then invest.

Over the past 25 years of my life, the smartest move I could have made anytime I had extra money would have been to invest it.

Start thinking like the wealthy, and always be looking for ways to put your money to work!

If you’ve never invested before and don’t know where to start, please check out my short guide, The Stock Market is For Everyone.

Until next time…enjoy the rest of the holiday weekend!