Stock Market Investing for Beginners & Dummies by Giovanni Rigters

Author:Giovanni Rigters
Language: eng
Format: epub
Tags: personal finance, investing, stock market, stock trading, stock market investing, mutual funds, stock exchange, investing for dummies, investing for beginners, investing 101
Publisher: Giovanni Rigters

Chapter Eight: 5 Lies You've Been Told About Investing

There are many lies people have been told about investing. Some of these lies are self-thought. People have been lied to because the person telling this lie doesn't know any better or they failed themselves and don't want to see you fail.

Other people have succeeded and don't want to see you accomplish your goals. So right now, we'll debunk 5 lies you've been told about investing.

Number one: you need to be a millionaire or have a lot of money to start investing

This is not true at all in this day and age. Yes, in the past the stock markets were only for the rich and wealthy, but the doors have been opened to us common folks a long time ago.

With the help of the internet investing the stock market is a lot more accessible now. You can buy and sell shares from the comfort of your living room or bedroom. Discount brokers have also made it very affordable to buy and sell shares. Previously, you would have to pay hundreds of dollars just to buy or sell stocks. Now your commission fee can be as low as $4.99 or even free if you're using an app like Robinhood.

You also don't need thousands of dollars to buy shares. You can start by just buying one share in a company like Coca-Cola, which has a share price of $46 right now.

It's also better to start with a little bit of money compared to investing $1 million from the get-go. The reason for this is that with small amounts of money you can experiment and have fun while you're learning the ins and outs of the market.

Imagine your first time investing with $1 million; you would probably be too scared or cautious with the money hoping not to lose a single penny in the market.

Number 2: I don't have enough or make enough money to start investing

Now, this one is a follow-up from the last lie. Any small amount of money you can set aside will help, even if it's only $10 a week. These 10 dollars add up to $520 by the end of the year and you can start investing with $520. Start saving for investing now and your future self will thank you.

Look at where you could save a couple of dollars during the week. It might mean eating out less during the week or one less trip to Starbucks a week. That is if you like Starbucks of course.

A change of mindset will do wonders. Instead of saying I don't have $10 to spare, change it to how can I save $10 a week? You will kick your subconscious into high gear and before you know it you'll end up saving even more than just $10 a week.

Number 3: invest now because long-term the market has always seen a 7% return

Number three is a tricky one. You will hear financial advisors and even people in the media saying this one. The reason you have to be careful with this one is that the future is unpredictable.

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