tronic687
|
There are two paths you can go from here. You can do what everyone here recommends, which leads to: meager returns, following the market, and is hassle-free. You won't have to think much, and you are basically saving money while you progress in your careers towards other things.
Or, if you want to be actively investing, that is, you want to play with money and get rich, which isn't for everyone, as it's very tedious and time consuming, then I have plenty of recommended reading material for you.
First, read "Rich Dad, Poor Dad", then the sequel, "The Cashflow Quadrant". While these are not necessarily the "how-to" on investing, and there is much controversy over the author's works, they are very eye-opening in the way the rich think, motivating, and easy reads. It's a good start. From there, you can pick up more motivational material like "the richest man in babylon" or "the greatest salesman in the world"
If you're still interested, then you really need to get into the....well, boring, dull stuff, the meat and bones. Take some accounting classes. You can teach yourself with www.simplestudies.com. If you don't learn accounting, you don't have much hope to invest. You need to learn how money works.
Buy a book by Benjamin Graham called "the Intelligent Investor". It's an intro to the way the best stock investors invest. If you aren't bored to tears by the time you finish, and you're hungry for more, pick up his textbook "Security Analysis", where the real meat and bones are. If you feel that you still want to invest, but stock isn't for you, try out Dolf de Roos's "Real Estate Riches". Or if generally you're finding that investing is just not your cup of tea, and you want to build a business, I suggest reading Michael Gerber's "The E-Myth Revisited" and Guy Kawasaki's "The Art of the Start".
Some books that are good to throw in between these reads are the autobiographies of great entrepreneurs, such as "Grinding It Out: The Making of McDonalds" by Ray Kroc, "The Autobiography of Andrew Carnegie", "Losing My Virginity" by Richard Branson, and "Made in America" by Sam Walton. These will all let you see straight from the source how the rich think.
Be aware that most books about money are a lot of fluff with very little substance. Then, you have a category that has good information but perhaps not what you want, for instance, Suze Orman, as someone had mentioned before, or any articles the Motley Fool puts out. There are lots of things out there on how to invest - you'll see lots about mutual funds and IRAs and 401ks and so forth. For most people, investing is about saving money in a certain kind of fund. Most people are what Benjamin Graham calls "defensive investors", who want to be smart with their money, but don't really want to be full-time investors. Of course, they make minimal gains when compared with full-time investors. So, it really depends what you want to do.
Don't forget to study accounting, make it a priority.
cscholberg@gmail.com |
Homepage 
Financial
Forum 
Investing 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
