Wall Street - Just give your money to Nigerian Princes (Part 1)
Bankers. Financial Planners. Analysts. Hedge Fund Managers. They all have one thing in common: They get rich off you! Don’t kid yourself, they will bend every rule to get you to buy their products, use every sales tactic in the book so that you invest your hard earned money with them.
Don’t. Please don’t.
I was like you. A passive investor. Sure, I dabbled and tested my mettle in the markets but with a very small portion of my portfolio. I was happy to let someone else do the heavy lifting. That was until I started to get real about investing. My “dabbling” was outperforming the rest of my portfolio and I could not understand why I was paying fees for someone to “actively” manage my portfolio. I’ve seen more activity watching paint dry.
So I made the decision. It’s my money. My future. My responsibility. Why leave it to someone else? I liquidated all my investments, dropped my advisor and went at it alone and haven’t looked back.
Think about it. Anyone who has quotas or is being paid a bonus based on how much product they sell is NOT looking out for your best interest. There is only one person that you should rely on when investing your hard earned money: YOU.
Everyone should save. Everyone should invest. Just don’t rely on Wall Street to have your best interests in mind. Investments can take a number of shapes and forms. Bonds, equities, ETFs, mutual funds, strip-bonds, memorabilia, art, real-estate, etc. Hell, since 2000, LEGO has performed better than gold and has outperformed the stock market!!
Is crypto-currency your thing? Check out this beautiful chart for Bitcoin
Source: Vocativ
Time to overcome your fear. Take control of your own future. As with anything, a little hard work and determination goes a long way.
I hope you enjoyed PART 1 of this series. I hope to enlighten and share some of my thoughts on different ways that you can take control of your own financial future. PART 2 – We’ll dig a little deeper and explore a little more, keep your money out of those Nigerian Princes' hands!! Do you have something in particular you would like me to cover? Let me know in the comments below.
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I guess demand for LEGO has outgrown demand for gold ahahahaha... trololol...
It's crazy isn't it? A few years ago I actually invested in a few LEGO sets and they are now worth triple what I paid for them. It doesn't make any sense to me, but collectors are a passionate bunch!!
Yeah, that's for sure. One of the biggest ROI I've seen in collectibles, is some of the demonetized coins from countries that adopted the euro. For example, in ebay the 1 drachma greek coin can be sold for, say, 0.20$. Now, it's face value was like 0.003$. So it's like 66x from 2002.
This was great writing! I can't wait to see more!
Id assume that btc goes up when large economies are doing poorly? Like walmart doing well while US economy is in a slump? I forget the term for inverse relationships like that.
Thanks!
Yes, BTC appears to move on macro economic issues. It definitely has an inverse relationship, almost a little bit like Gold. Actually, that is what I want to do a little more research on....its relationship to gold. I feel as though similar macro economic issues would drive them up demand for both.
Thanks for sharing. I loathe the stock market, and banks in general. It makes more sense to me, to have physical metals, than to buy...stock.
A lot of people are not comfortable with stocks but there are many ways to invest your money. Precious metals is definitely one of them.
Great post. I wanted to let you know about a project for us minnows I just found, and I mentioned you in a comment there: https://steemit.com/steemit/@cryptos/looking-for-more-test-subjects-no-i-m-still-not-kidding The post is older so I don't know if my comment will be seen, but it might be a project worth checking out.
Thanks...i'll go check it out!