I’m doing everything to get wrap my head around personal finance recently. I tried investing in stocks (just a measly amount) as well as learning more about mutual funds. I’m going to invest in my first life insurance in a few days from now – I just need my mentor’s input on it. I’ve also saved up for my emergency fund – in case anything goes wrong.
Some books I’m reading now about finance include:
- No Nonsense Personal Finance by Randell Tiongson
- Rich dad’s Guide to Investing by Robert Kiyosaki
Very interesting books that shift my perspective from being just a specialist and thought leader in the SEO and internet marketing industry.Personal finance teaches me how to manage the money I’m earning as an SEO specialist and consultant. God has blessed me with an exciting SEO company. Cash flow is an integral part of that. I better learn where to put the money of the company where it will grow and produce and bear fruit so that I can grow the company faster.
The world of finance has a lot to do with numbers and analysis – it’s not very far off from being an SEO analyst. It’s very intriguing and easily likeable for a guy like me. I’m learning a lot with stocks right now as I try it out – but I believe I need a mentor to help me out in the latest and best way to play it right.
Stocks can be tricky. In fact, most of the conservative Chinese businessmen see stocks as gambling. It’s not. It’s an educated, sophisticated way to invest your money in the right company for the long-term.
Stocks can be traded – that’s playing. Or it can be a source of investment. In any case, I want to know the fine line between investing money willing to lose in stocks and/or investing for long-term growth.
I’ve experienced some growth but it’s not enough to conclude my intuitions. Sometimes intuitions can be wrong – very wrong. Stocks is more than just risk management. For beginners like me, it’s also greed management. You shouldn’t put too much in stocks especially when you’re just a new guy trying it out.
Mutual funds seems like a good place to put some of my funds in too. It averages 8% per year which beats inflation. I’m trying to get my people to invest in these kinds of smart investments too instead of just putting their money on the bank. It’s a whole new world to explore.
I’m thinking of holding a seminar targeting people like me – who are making money online and yet, we don’t know where to put our money in so we keep spending and we end up saving peanuts. I think people will attend that seminar. It’s still a long way to go but I’m sure it’ll be well worth it if we can pull it off.
I should make a survey about it though – asking people if they’re going to attend and if the rates are good for them. It’ll help me draw co-speakers and event organizers. It’s almost as good as money but my main goal will be educating people like me to become a success in their financial management.
Finance hits personal, business and vision – it’s simply something that everyone needs to know.