A Jedi Way To Invest!
Ever dream of diverting course to find an alien planet. To find your own Master Yoda to guide you in the ways of the force. Good, you’re here; you have arrived. This is your step by step guide on how to use the force to become a Stock Market master. Instead of having you, balance on one hand and partake in advanced blindfold lightsaber training.
The road is not easy, but, as you will learn here, nothing of true value ever is. In these uncertain times, my friend, few things are as valuable as managing your financial future. Here the word fortune takes on multiple meanings indeed. Let us begin:
Rid your mind of misinformation and fear
Fear is the path to the dark side. Fear leads to anger. Anger leads to hate. Hate leads to suffering — Yoda
Whether we are aware of it or not, we all have preconceptions about the world of investment. These ideas probably come from movies, TV shows, bits and pieces of news that we get here and there. Ultimately, the lasting impression we get is a foggy, seemingly impenetrable jumble of figures and jargon.
Well, forget what you think you know.
Part of learning anything the right way is undoing the learning of the past. Perhaps what you’ve learned is that making money in the stock market is something “they” do. They, of course, meaning those who have studied finance, or business; people with the minds to crack the code. But don’t fear the jargon, it is an illusion keeping you away from something that is well within your reach.
As with all things simplicity is key. A good guide that delivers the terminology in a simple clear fashion is essential. A document that you trust for its clarity should be your companion in these early stages.
Think of it as your own personal R2D2 I have written such guide for beginners and you can find it here.
Avoid the dark side
“Named must your fear be before banish it you can” — Yoda
Avoid gurus that promise great returns in the short term. Sith Lords are everywhere and they aren’t hard to recognize. The true nature of the stock market runs parallel to our everyday lives.
In other words, parked cars don’t just float off into the sky, and a hundred-dollar investment in the stock market will not turn into a thousand overnight. Is someone telling you otherwise? There’s your Sith, your false guru.
In sound financing strategy the concept of “if it sounds too good to be true . . . “ applies more than in most other situations. Someone promising you a quick fix to your financial situation is selling you a flawed product. If someone is offering you an investment that promises a high return but you don’t fully understand, walk away.
The ways of the force
Luke: “I can’t believe it!” — Yoda: “That’s why you fail”
A sound investment practice is marked by a discipline of balances and good habits. With good habits comes fearlessness.
The jargon and the numbers are some of the most fear-inducing attributes of the market.
However, with a little practice, the terminology and concepts are super easy.
Commitment and perseverance
A goal without a plan is useless. A good guide will tell you set your goals first and foremost.
Mastering any worthwhile process requires a time and effort. Once a good source of information is found it is important to review and practice the techniques that are offered. Expect some failure and frustration.
But consider the amount of time you give to other life activities, when you buy a car, fridge, a new laptop, how much research do you do? Investment is no different.
You must learn the techniques and apply them for yourself. Don’t substitute work with second-hand information. Just because your brother in law or coworker give you a “hot stock tip” that does not excuse you from rolling up your sleeves and get down to do do the research.
Remember it is your responsibility to make sure you understand the investments you make.
What are you trying to accomplish and how long do you have to accomplish it. Are you trying to buy a car, put the kids through college or secure your retirement? Why is it important to know your goals? Because it is the goal that will determine the best strategy.
Do or do not
Research, patience, realism, planning all of these will guide you in the way of the force.
If you have come this far, I sense that your interest is genuine. If this is true, then you must be aware that discipline and change are part of your education are part of your progress.
You would not be here, reading this article if money was in infinite supply for you. It isn’t and that is why you’re here, to learn how to maximize your resources, to figure out how to harness your full possibility. You knew coming in that sacrifices would have to be made.
The good news is that by curtailing some of your habits you stand to gain exponential benefits. The hard part is the inertia that all of us fall prey to. We are, after all creatures of habit that seek comfort.
I’m not going to lie to you. You will have to adapt and curtail your discretionary spending. Start by changing one or two habits. Maybe go to the bar once instead of twice, use that money to invest. In purchasing articles of clothing, or entertainment options, ask yourself if you can do without.
Don’t take it to extremes, but know that the returns on your conservative decisions are worthwhile.
Part of this aspect is to Invest or not according to your educated decisions. I can’t emphasize enough how important it is to. Invest only in what you understand and believe in.
These techniques and attitudes are already at your disposal, your dedication, your desire for a better life, your tenacity in pursuing a goal, these will serve you well.
Everything you need to guide your financial destiny is within reach. If you can dispel the fog of wrong information, wrong thinking, and fear, there is no limit to what you can achieve.
May the Force be with you!