You Need An Education To Be Success on Wall Street, Not Necessarily A College Degree
One day I was chatting with a friend about investments and how she was handling her financial future. Her reply was such a surprise that I started stammering. She said that since she did not go to college, she feels she has no qualifications to join the world of finance and investments, so she stays out of the game.
Don't get me wrong. I'm nobody's miracle broker. My family has a team of people managing the stock we buy and the trades we make, and we rely on them heavily to make sure things keep moving forward as smoothly as humanly possible. And there's nothing wrong with that. But I value the fact that I have the opportunity to observe what they're doing and use that information to gain a basic understanding of how the stock market works and what that can do to help keep my family and myself in one piece.
No College Education Required
There is a myth that I am going to dispel right now. The myth that you need an MBA from Harvard to trade stocks successfully. If a lack of a college degree is the only thing keeping you from the stock market and investing, you've got it all wrong. A nicely scripted diploma doesn't insure success and the lack of one doesn't insure failure when it comes to stock trades.
Trading stock, particularly if you are working with a group of professionals, does not require a college degree. Actually, no formal training of any kind is a requirement, just an understanding of how stock trading operates and what you want your financial future to look like.
Before plunging head first into the stock market, two things must occur. Most importantly, discuss any investment plan with your partner or spouse, if applicable and set your long term financial goals. What does that picture look like in five years? Ten? Fifteen? Putting a clear picture in your head of those numbers will help you immensely when you start executing your financial plan. It will also be of great assistance to your financial advisor/stock broker/consultant to help him know where to begin to help you plan for a successful financial future.
You Should Maintain Some Control
Just because you can have somebody else completely manage your financial assets doesn't mean that you should. Letting someone else handle all of your money is the rough equivalent of assuming that your mechanic is going to handle everything associated with your car. Sooner or later, you're going to end up running out of oil on the side of the road, and since you never took the time to learn anything about the vehicle you're driving, you're going to end up scratching your head and trying to figure out what went wrong.
With that in mind, let's talk about your finances. When you start to trade, I also suggest you take the time to learn the basics of trading. It doesn't have to be an in-depth analysis on market trends, or a $40,000 college education. Some fundamental training in Trading 101 will do the trick. Look for an established program geared toward beginners that connects you with experienced and highly trained traders who will teach you the reality, not just the theory, of stock trading.
Once you've got a little bit of training under your belt and a good stock broker in your corner, you've got what it takes to take Wall Street by storm.
Don't get me wrong. I'm nobody's miracle broker. My family has a team of people managing the stock we buy and the trades we make, and we rely on them heavily to make sure things keep moving forward as smoothly as humanly possible. And there's nothing wrong with that. But I value the fact that I have the opportunity to observe what they're doing and use that information to gain a basic understanding of how the stock market works and what that can do to help keep my family and myself in one piece.
No College Education Required
There is a myth that I am going to dispel right now. The myth that you need an MBA from Harvard to trade stocks successfully. If a lack of a college degree is the only thing keeping you from the stock market and investing, you've got it all wrong. A nicely scripted diploma doesn't insure success and the lack of one doesn't insure failure when it comes to stock trades.
Trading stock, particularly if you are working with a group of professionals, does not require a college degree. Actually, no formal training of any kind is a requirement, just an understanding of how stock trading operates and what you want your financial future to look like.
Before plunging head first into the stock market, two things must occur. Most importantly, discuss any investment plan with your partner or spouse, if applicable and set your long term financial goals. What does that picture look like in five years? Ten? Fifteen? Putting a clear picture in your head of those numbers will help you immensely when you start executing your financial plan. It will also be of great assistance to your financial advisor/stock broker/consultant to help him know where to begin to help you plan for a successful financial future.
You Should Maintain Some Control
Just because you can have somebody else completely manage your financial assets doesn't mean that you should. Letting someone else handle all of your money is the rough equivalent of assuming that your mechanic is going to handle everything associated with your car. Sooner or later, you're going to end up running out of oil on the side of the road, and since you never took the time to learn anything about the vehicle you're driving, you're going to end up scratching your head and trying to figure out what went wrong.
With that in mind, let's talk about your finances. When you start to trade, I also suggest you take the time to learn the basics of trading. It doesn't have to be an in-depth analysis on market trends, or a $40,000 college education. Some fundamental training in Trading 101 will do the trick. Look for an established program geared toward beginners that connects you with experienced and highly trained traders who will teach you the reality, not just the theory, of stock trading.
Once you've got a little bit of training under your belt and a good stock broker in your corner, you've got what it takes to take Wall Street by storm.