We discuss how to get started investing in stocks
STOCKS 101 – Stocks Explained to the Beginner
Episode 10. You want stocks but your broke : (
Bryan Reich - Website: www.makestocksfun.com
Do you want a transcript of today’s seminar?
Email me at:
Email: bryanking@yahoo.com
Or direct message on the meetup app.
I appreciate everyone being here and spending time
On your stock development. I know you want to learn
How to generate income via the stock market and today
I threw in a bonus for you so stick around until the end.
.
My name is Bryan Reich. I am a successful stock investor and my goal is to become a stock millionaire.
In these sessions, I want to pass on my knowledge of wins and losses so you can enjoy the success I have today.
Week 10’s Introduction:
In today’s important lesson, we will go over how to
How to “find” money hidden inside your budget. A dollar saved
Is a dollar earned. How can you be expected to find quality companies by going over their Financial reports when you are overlooking the most important one.
YOUR OWN!
Before we dive into your budget, we need to look at your
Psychology. You need an important reason for
“why” you want to have stock success.
.
Ø You want passive income to supplement your full-time job
Ø Are you providing for a loved one?
Ø Are you providing for your kids?
Ø Do you want a new Porsche?
Ø Do you need “quick money”?
Ø Do you want leverage in case you lose your job?
Ø Financial Security?
Ø Financial Independence?
Whatever your reason is…. Jot it down and try to keep it in
Front of you. Tip- Put your goal in your bathroom mirror so you
Are reminded everyday of what you are trying to achieve. I want to be a stock millionaire. Why?
I want to have peace of mind and change this world for the
Better. I like to fund concepts that can bring people happiness.
That is my big “WHY” My Goal: To make this a better place while I am alive and well. This keeps me on track and WANTING to hit my goal. Right now, I am funding Scammer Payback- a YouTuber that prevents Hackers and fraudulent teams from scamming innocent people out of their funds.
My desire to hit my goal is GREATER than sitting on YouTube
Watching my favorite channels. IE Distractions.
To win with stocks you have to set up your psychology in the right
Way. You have to be driven and motivated to stay on the path and set up goals. If you are close to broke, I would write
Down a goal like “On my first stock trade, I would like to
See an annual percentage of 8%” or “I want to double
My money”. Always have the BIG picture in mind through
Your trades so they do NOT seem independent of themselves.
Makes sense? Otherwise, this trade might seem unimportant and might lose focus.
“
Reverse Engineering
By asking yourself where you like to be in x amount of time then
You can figure out how to get there!
If in 20 years you want 1.5 million then count down from there
And see what you need today so you can achieve what you need
From tomorrow. Makes Sense? That way everything you do has more meaning. I track my stocks on a spreadsheet that is updated every minute throughout the day. I will go over this concept in GREAT DETAIL in next week’s lesson. This concept changed my life! I moved to Arizona because of “reverse engineering”. In my mind--- “Bryan do you want to shovel snow when you are 80 or be on a jet ski in Lake Havasu”? I chose the latter. : )
Your mind is so powerful it scares you. You can be your worst
Enemy. Let's do a simple but effective exercise.
Take a moment and say this “ Point to your head and say I have a millionaire's mind. I am smart and I can accomplish
What I set out to achieve.” This is necessary. In a cold
World that brings new hate by the day, try this exercise 3 times a day.
The big takeaway from this week’s lesson is to
VALUE Money. Save it vs gambling it. Save
It vs throwing it away. That money can be worth
So much more through compound interest.
COMPOUND INTEREST HAS TO BE THE 8TH WONDER OF THE WORLD!!! Money is wonderful and it can do wonderful
Things for people. You should want an abundance of it in your
Life. : )
That is what makes me motivated to save my money because I know in 12-15 years the snowball I am creating today will
Turn into a gigantic boulder.
Your Budget and let's find some $$$ to invest.
Assets- Define
House- Can
Airbnb
Lease-
Collectors-
Car- ad wraps
Expenses- Define
Insurance
Utilities
Car loan- Prosper.com
What costs you the most amount of money?
- 1) Bad Relationships
- 2) Car
- 3) Food
- 4) Big ticket items
1)Bad Relationships— Not only will bad relationships cost you
Money, they can ruin you mentally for a long time as well.
2) Car- Buy reliable used cars. Consumer reports has reliable
Information that can help. Keep cars over 10 years to help save money from costly loans and repairs.
Clark Howard says keeping a car for over 10 years can save you as much as 5 years from your retirement.
3) Most Americans overconsume food. Lots of reports suggest
Fasting is healthy for your body and wallet.
4) Big ticket items- Always get 3 quotes if the item is over
$1000.00.
Even if you are tight with your finances more than likely
You are paying your bills on time. If you can afford it, why not just buy stocks once a month just like paying your bills?
Most companies on the stock exchange have DRIPS- Dividend Reinvestment Plans so you can setup an automatic long-term plan.
**** Bonus Material****
Now that we have an established community with
Awesome followers, I like to officially name you as
“investors”! Is anyone familiar with paper trading?
Paper trading allows you to play the market without risk.
If you attended last week you “earned” 10 shares and every week you show up you will earn 10 shares as well. After all, time is money! Right?
I will list in the comments the company names and symbols that
We discussed over the weeks so feel free to pick one or any stock exchange company is fine. Please comment in the events comment field. I will randomly select one for you if nothing has been selected by Wednesday of this week. Each investor can make one trade per week.
This way you can track stock success without any risk to you!
Also, we will have fun, games and contests with real cash rewards to be announced next week! Very exciting stuff. As we grow together we will become better investors. : )
Any questions?
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