Met with our mentor today to discuss investing. No I’m not at the point where I can invest, but I’m at the point where I want to learn about investing. The man we met with is a multimillionaire, he started when he was young. One thing he honed in on was, save most of your income, don’t buy unnecessary things and read.
It’s myself and two friends, he has agreed to teach us and he’s not charging.
I chuckled when he told us to get the books from the library because they’re free. First thing came to mind was if you want to be rich, do as the rich. I’m nervous about this journey but I’m excited.
Our first assignment, and it’s a tough one, pick a company you’d like to invest in and ask yourself why? Look at the owners, how they’ve performed etc. I’m so nervous because I have no idea what or who I’d like to invest in. But I’m going to try and tackle.
Lastly, I logged into my student loan account, and finally my payment of $500 hit, I’m officially now paying down principal and it feels great.
It felt good to not think about COVID today
Investment Coaching and Student Loans
July 30th, 2020 at 01:59 am
July 30th, 2020 at 02:07 am 1596074874
July 30th, 2020 at 07:04 pm 1596135877
At that time, they listed the stock price in the newspaper every day - in very tiny print.
I think the class must have been current events, and we each got a copy of the paper every day.
Anyway, I chose Pizza Hut and I think IBM.
We would check the price each day, and compare.
I’m sure there was more to the lesson, but what I retained is that I would have done well to buy Pizza Hut stock..
It is a fun, risk free way to learn how to invest.
July 30th, 2020 at 08:18 pm 1596140334
Amber--That's great on the principal. It's good that you've found one to teach you and for free. Also, I second the getting your books from the library. While I will buy the occasional book it is only after I have read it and decide it is something I want to have access to always, like the Tightwad Gazette books or Dave Ramsey or a cookbook. I might buy one book a year and that is pushing it.
July 30th, 2020 at 08:57 pm 1596142629
July 31st, 2020 at 05:47 am 1596174474
August 2nd, 2020 at 07:58 pm 1596398281
I'm a big library fan. I think one of the things that hurt me the most was not being able to check out books when the library shut down. I don't like to read stuff using a device; the light eventually tires my eyes and strains them and I have no desire to invest in a Kindle.
If you haven't already, you might go to your library and check out the book, "The Millionaire Next Door." it's an older book, but it talks about how most millionaires are not living the high lifestyle.
Our library on the bottom of our checkout receipt tells us how much we "saved" using the library. I think I'm close to $3000 since they started putting this on the bottom of the receipt. Kind of makes one feel good!