The Definition of Investing
I recently conducted a survey and received hundreds and hundreds of responses. One of the questions I asked was:
Which (if any) of the following financial areas do you feel CLUELESS about?
The top response 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 about investing” to “financially confident and competent investor!” You will be seeing these resources being released over the next several month, and we can’t wait to share them with you!
In the meantime, 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 are creating resources to help people maximize their investing efforts.
I look forward to sharing more in the very near future!
Joe, definitely something people need to have some basics and avoid being fearful over. Too often we’re seeing people avoid engaging topics they do not understand. Of course, with investing, we know getting started earlier is better — so the delays really can create a tougher environment to realize success down the road.
Wise, honest, and ethical counsel in this area is more important than ever.
Called all of our credit card companies requesting rate decrease. Even after dropping your name they merely laughed and said no.