Can a woman who does not know much about the stock market decide to purchase and manage her own stocks? Can she actually make money on her return?
The answer is yes to both questions, but it takes three important things to do this and make money at it.
1. Research the market
2. Educate your self on every aspect of being your own broker and investor.
3. Know your limitations and your financial status at all times.
If you research the market first, it will give you an idea of the types of stocks that might be of interest to you. The stocks should come from businesses or corportations that offer products that you respect. The stocks also have to be available for public purchase and within your price range.
Education includes watching the papers for the latest stock market standings, learning the lingo so you can clearly understand what you are purchasing, and finding reliable companies where you can trust to keep your accounts straight especially if you manage your portfolio online.
The stock market is not a get rich quick scheme. It is for serious business and investor clients who want to make money but it is for corporations that will grow that money by becoming bigger and better for the consumer. You must know your own financial limitations so you don’t invest money that you can ill aford to loose. You must understand that while these corporations expect to turn a profit and grow the value of the stocks you purchase, businesses also fail. You must be prepared for a loss if that were to occur.
Know your own financial status at all times, especially if you have deductions taken out of your bank account to fund stock purchases. It would not benefit you to have overdraft fees because of stocks you couldn’t afford.
Research companies where you can do your own purchasing and trading. Fidelity and E -Trade offer the ability to do every transaction over the Internet with phone support if needed. There are many other companies that offer the same thing. Read the fine print before making a decision so you know what extra fees may be attached to a transaction.
If you do your research, educate yourself, and know your financial status including limitations you can invest in the market and turn a great profit over time. Don’t expect to make a fortune in a short amount of time. The stock market is for a long term investment so be prepared with long term financial goals.
Feel free to share what has worked for you so other women can begin to invest and improve their financial picture too.
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