Thursday, February 14, 2008

What Do I Need To Know About Investing? - Getting The Right Education

The Simple Dollar is a blog that I love! I came across it recently and have found it very fun, interesting and enlightening to read in regards to basic investing and mindset. I would definitely regard it as one of my inspirations for this blog. Their latest posts called

Investing In Yourself - Education and Cultural Literacy

Got me thinking. As the name suggests "Investing In Yourself" is a term that not everyone is familiar with. Yet I believe it be one of the most important things in your journey to wealth. A lot of people are willing to invest in a car, in a house, in something tangible, but rarely do they place as much value on investing the time and money on themselves.

One of the points covered in this post was Education. I wanted to expand further on that. To me there are two types of main education that one would need to start creating some serious wealth and to start taking control of their financial future.

Education For Your Mindset

Our thoughts and beliefs on money, time and investing will influence our financial incomes dramatically. Limiting beliefs have enormous power in what we believe we can achieve and whether or we think that we are worthy of abundance. A lot of people will be stuck in a certain financial place because there are certain things that are holding them back. Some of these limiting beliefs can go as deeply as " If I have money then i will not be loved" or "Money is for the rich and selfish" or "I am undeserving of money".

Becoming aware of what these beliefs are can be incredibly powerful and sometimes the one key you need to take you to the next level. The only reason why people are in the financial situation they are today is because their past thoughts have lead them to where they are now. Changing those thoughts, leads to a change in actions, leads to a change in habits which leads to a change in their financial destiny.

So to change these limiting beliefs one must first invest in themselves by reading books and attending seminars. There are a number of courses that are designed to uncover these beliefs and help you gain new attitudes and insights. In my post Before you start investing you have to read this, I cover some of the books that really help you set up an abundance mentality. The ironic thing is that some of these invaluable books are free!!! So heres the thing, you already have the tools to help you get started to investing better. Now you need to focus on keeping an open mind and absorbing all these new concepts and techniques that could help you out in the future and not only investing the money ... but also the time.

Education For Investing
Once you have been able to change your limiting beliefs about money and you are ready to start accepting it into your life then you can look at seminars and course and books that will give you strategies to achieve your overall game plan. You need to discover which tactics you want to use to get to where you want to go. There are number of course and organizations that are out there that can help you in this area. Some of them will not be cheap. Some may cost up to $10000 plus.

But you see if you attend these course and implement some of the techniques that they may teach you could save yourself hundreds of thousands of dollar by investing in the right vehicles in the right place. Or they could teach you something that could save you that amount of TIME and MONEY in the future. People who go to these seminars are very smart. In that they recognize that there is still things out there that they need to learn instead of assuming that they know everything.

Another part in getting education for investing is to find the right organizations and mentors to partner with. There are people that really take you by the hand, that guide you the right place to go and that give you the inspiration to keep pushing forward. It’s always best to remember however to get advice from the right places, from people that you feel are qualified to offer you advice. Not in the sense in that they have the paper qualifications, in a sense that is important too, but more in the sense that have the financial stability that you are looking for.

In other words if you want to find a mentor then, find someone who has accumulated the amount of asset and wealth base that you are looking to accumulate or more ....

Young Investor

If you want to get weekly updates, subscribe to the RSS feed

No comments: