I recently conducted a survey and received hundreds and hundreds of responses. One of the questions I asked was:
Which financial topic do you struggle with most?
One of the top responses was Investing.
With phrases like mutual funds, ETFs, stocks, bonds, brokers, margin accounts, rate of return, yield rate, P/E, market capitalization, and current ratio, it can literally feel as if investing is another language!
I know the feeling as I’ve been there! Because of the results of this survey, I am tasking the I Was Broke. Now I’m Not. team to aggressively address this issue. We are hard at work developing resources that are going to help take people from clueless to financially confident and competent investor! We are also focusing on the topic of investing for the whole month of October!
First, let’s start by presenting a working definition of “investing.”
Investing Using your money and possessions to create more money and possessions.
The goal for any investment is to gain more in return. There are countless ways to do this and we’ll dive more into this over the month.