Wealthy Joe Classic: “I Don’t Have Enough Money To Begin Investing!”…BULLSHIT!

Good morning!

From time to time, I’ll be running posts I’ve made in the past that have relevance today.

This morning, I’m revisiting a proclamation I made back in October of 2017, soon after I wrote The Stock Market is For Everyone.

Tough words, but true words!

Here’s the post in its entirety:

“I Don’t Have Enough Money To Begin Investing!”…BULLSHIT!

I can’t tell you the number of times I’ve heard people say that they cannot afford to invest in the stock market.  That’s pure nonsense!

Do you smoke…cigarettes, weed, something else?

Can you not live without that daily pumpkin spice latte?

Do you feel you “must” buy a new pair of shoes every two weeks?

I have a friend who can only afford to buy one or two shares of Activision Blizzard (NASDAQ: ATVI) every month.  She is working her way out of debt.  When first faced with the idea of investing, she had no idea where she would find the extra funds.

What she started doing is bringing her lunch to work most days, instead of buying it.  By doing this, she is now able to put $50.00, and sometimes more, into her investment account each month.

How about your cell phone plan?  Many people pay over $100 per month for service for one person.  This is way too much!

My cell service is through Boost.  I pay $50.00 per month for unlimited service, and get everything I need.

I try to keep my expenses low in every way I can.

Need inspiration?  Check out this janitor who amassed an $8 million fortune.

Listen: the dollar amount you save is not important. What is important is developing the habit of investing.  Once you start to invest, the likelihood that you will continue will increase over time.

Start by putting $25 (or more!) aside every two weeks toward your financial freedom.  That may not seem like much, but it will compound over time, and before you know it, YOU will become a wealthy Joe!

Stop making excuses!  If you want something badly enough, you’ll make it happen.  Change your habits, cut expenses,  and find a way to put at least $25 aside every two weeks to invest.

Share your ideas with me here in the comments about how you have done this…or plan to!

And please, check out my short guide on investing basics, The Stock Market is for Everyone, available for $3.99 in e-book format and $9.99 in paperback format on Amazon.

Until next time…here’s to your wealth!

 

My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.

Click the image of the book at left to be taken to its Amazon page.  (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)

 

 

 

When Being Out Of Favor Can Do You A Favor!

Good morning!

Sometimes the best time to invest in a stock is to buy when no one else is looking.

What I mean by that is to buy when the sentiment is negative. Over time, stocks will go through periods when everybody loves them and periods when everybody hates them. These feelings are called market sentiment.

Why is buying when sentiment is low a good idea? Can you take a guess?

If you’re a regular reader of this blog, you may have guessed that buying when sentiment is low is a good idea because the stock price will be lower. You guessed correctly!

Now, keep in mind that in a case like this, the company is still a great business with a bright future.  It’s merely the poor sentiment that is pushing the price of the stock down.  That is okay.

Here are three companies with poor sentiment currently, but great future potential:

1. Facebook (NASDAQ: FB): The social networking giant had a rough 2018. The company was under intense scrutiny due to the Cambridge Analytica scandal and privacy issues.

Facebook was the darling of Wall Street up until this point: the stock had gone from $65 to $218 over the five years leading up to that, and could do no wrong. Today it sits at $163, down 25% from its all-time high – and it’s one of the most hated stocks on the market.

In spite of whatever you may feel about Facebook, its future is still incredibly bright. I think it might be wise to pick up some shares at these prices.

2. Tesla (NASDAQ: TSLA): Tesla is the leader in electric vehicle sales as well as autonomous driving. Last year, Tesla stock basically went nowhere, for a number of different reasons.

There was concern that Tesla would not be able to meet the production level set by their CEO, Elon Musk, and that the company, which up until the third quarter of 2018 would report a significant loss, would possibly have to raise capital. Instead, Tesla reported a profit.

Also, Musk got into trouble with the SEC (Securities and Exchange Commission) because of a tweet he made about taking the company private. Tesla has since settled with the SEC and put that issue behind them.

ARK Invest is projecting electric vehicle sales to increase by 20 times over the next five years. This would increase sales from 2.6 million in 2018 to 26 million in 2023!

3. Nvidia (NASDAQ: NVDA): Nvidia is the leader in GPUs (general processing units), which are used in gaming and for artificial intelligence. Over the next five years, the projected growth for artificial intelligence is expected to be 25% per year. Nvidia will be a huge beneficiary of this growth.

Last year, Nvidia reported a terrible third quarter. They also lowered their profit numbers significantly because of excess inventory due to the collapse of the cryptocurrency markets. This resulted in the stock price going down by more than half, placing the company in Wall Street’s penalty box.

This could be a great time to pick up some shares of a company that will be a leader in one of the biggest trends of our lifetime!

Disclaimer/Disclosure Statement: Information in this article is not intended to be a recommendation to invest in any stock.  Rather, it is presented for readers’ education and consideration when making their own investment decisions.  The author is long NVDA.

My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.

Click the image of the book at left to be taken to its Amazon page.  (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)