The news is by your side.

- Advertisement -

DON’T LOOK FOR THE FINANCIAL HOME RUN; SINGLES AND DOUBLES RESULT IN THE LONG-TERM WIN

0 1

Get real time updates directly on you device, subscribe now.

If you didn’t get this drilled in your head with the last principle, I’m going to re-emphasize it here.
However, this is the reverse of the previous principle. The previous principle points out problems
with people finding and approaching you with “get rich quick” schemes. This principle deals with
you looking for the financial home run.
To put it simply, it’s rare to find the home run, but you can regularly find singles and doubles. They
add up to more “runs” and wins in the long run.
One example is the way you purchase stocks. The person looking for the financial home run will put
all her money in a newly issued Internet stock that looks like the next Google. The person looking for
the single may invest 1 percent of his stock portfolio in the newly issued stock and the rest in a
diversified stock portfolio.
Another extreme example is someone who takes his weekly savings and buys lottery tickets rather
than putting it toward future investments. He may be the one in one hundred million who hits the
financial home run. However, in all likelihood, he will end up with nothing saved. If he had invested
the money, he would have been able to retire early with considerable savings.
Most millionaires became millionaires by hitting singles and doubles. While you often read about the
ones who hit the financial home run, they are the rarity. Stick with the smart, long-term, lower-risk
investments.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More