Financial Planning, Investments, My Life, Trading Secrets, Women Empowerment, World economy & politicsYou can find original article at Business Woman Media website
Don’t hold back: women should take control of their investments
One of the myths about why there are not many women engaged in trading and investing is because they are scared of taking action in the ‘male world of finance’. Women are often scared of not knowing what to do… how to start. As a woman trader who started from zero and becoming a millionaire, I know that the best way to overcome that fear – even on a limited budget – is to dip your toes into the market.
The old saying that it takes money to make money is true. And those living paycheck to paycheck may feel there often isn’t enough money left over to put towards investing.But if you don’t put money away for later years, you will face a very difficult future. One day, you won’t be able to work and you may not have enough money to live on… So what can you donow to escape such a catastrophic situation in future?
To reach any goal, you need look for opportunities, not for excuses.
Financial freedom comes to the persons who take control over their finances – It’s a golden rule of the universe. My advice is not new, but it works. Follow 3 easy steps to change your life and take control over your financial future:
One of the best thing you can do for yourself is to develop a habit of saving part of your salary or other income. Even a small amount regularly saved adds up over time. Savings today are guarantees and possibilities of tomorrow. Beginning today first of all reserve 10% of your income to save. You can save even more — or if 10% seems to be too big an amount for you, start with 2% or 4% and increase it every month. Make every dollar count! How often do you go to fast food restaurant, how often do you buy snacks? What if you cut out even small part of those expenses each month, netting you an extra $100 per month? At the end of the year you will have $1200. Yes, it does not seem like much to get started, but anything is better than nothing, and it can make a big difference in 20 years.
Start a special account to save 10% of your income and pay it with the same respect as you do your mortgage. Be disciplined – it’s your key to success. And never touch your savings, except for investing.
While you are letting your savings mount up to the level where you can use them, educate yourself about investment. There are many free courses and a lot of information around that can teach you the basics of the market, the different kinds of shares, bonds and other opportunities. Beware of those who recommend anything they personally get a fee for pushing. Learn for yourself what the risks and rewards are from different types of investing.
3. Get started
Start investing as soon as possible, as soon as you accumulate enough funds to join the investment program you like – do it! If you are just saving, not investing, you will never become wealthy, because inflation will be eating your money day by day and year by year. The magic formula is saving + investing = financial freedom.
To reach a goal you need to make a first step – do it now!
Hi my dear readers! Glad to share my recent video, where I give 5 easy tips to find good and trusted broker. Hope my advices will help you to make right choice. Being a woman trader, who started from zero and made millions in trading I understand how important is to find good broker. It’s one of the main keys to successfull and profitable trading.So, let’s start:
- Regulation. In fact all brokers are regulated in some way, but most important is if this regulation can really protect you or It’s so called ‘symbolic regulation’. Always pay your attention to thecountry of regulation, It’s laws ans how financial regulator works there.
- Financial guarentees. Good financial regulation doesn’t mean you will get your money back in case of broker bankruptcy. Of course, we all are trying to find the best broker, the most safety one, but who knows what may happen. Do you remember Lehman Brothers or 300 years old Barings bank? To have financial guarantees of your funds safety choose broker that is:
– a bank;
– a broker, where clients funds are maintained by bank separately from broker funds;
– a broker, that has essential amount in It’s equity capital.
3. Commissions and spreads. You know broker makes money through commissions and spreads. Of course, we all are dreaming about lowest possible rates, but don;t be greedy. Cheap commissions may cost you all your money. Unrealistic low rates are offerd by not the best brokers or even worse…..
4. Trading platform. If you are new in trading, look for the broker that offers easy for understanding and easy for use trading platform, that has variety of fundamental and technical analysis tools.
5. Leverage. Don’t try to find a broker, that offers very high leverage or at least don’t use high leverage. Remember, trading is like driving a car – start with low speed or you will get crashed.
In conclusion. I advice you to use this tips to make right choice and don’t trust online ratings. Here is why –
- Very often (doesn’t mean always!) brokers pay for website owners to be featured on best brokers ratings;
- Website may be affiliate partner of number of brokers and creates rating depending on how much CPA he gets from broker per each opened account.
Thank you for watching/reading! If you find this information usefull, share It with your friends. Also, you can leave me message or comments what topics on trading, investing or finance you would like to be covered on my next video.
Enjoy your trading!