Thank you for returning on this Friday the 13th for a new week of #FundMeFriday. In case I have not said it lately, I appreciate all of you. Market Mania is a real thing these days but I am not talking about the run on toilet paper at the supermarket. I am talking about the super wild ride in the stock market that has people screaming to get off this sickening roller coaster ride. Before I get into the stock market and your money, I need to ask you my weekly question, have you funded yourself today? Please, if you have not done so yet, make that transfer. Do not let the hysteria of this pandemic stop you from focusing on your goals. When it comes to this pandemic, this too shall pass and when it does, please do not be one of those people who uses this situation as an excuse that will inevitably put you behind the eight ball. Stay focused.
Now, before I continue, I must do my legal due diligence and tell you that I am a Tax Accountant and a Business Consultant. I am not a stock broker and this blog is meant for information purposes. If you have questions regarding your personal finances, you should speak with your accountant, your attorney or your financial advisor. That being said, drama! This freaking stock market has given me heart palpitations. So what is one to do? I have two ideas that I am finding beneficial and hopefully financially rewarding.
First of all, if you have money invested in the market, it is my opinion that you should not even look at your portfolio right now and do not even entertain selling any holdings. The stock market horror ride is a temporary situation. In my opinion if you sell off now, you will lose big time. Right now, any losses are just paper loses so sit tight. History tells you that this will pass and as long as you hold steady, the pain will begin to ease as the market begins to recover.
My second thought is that this is a perfect time to buy. If you have money to buy some undervalued company right now, you stand to make some nice money. If you only have a small amount of money, I recommend opening up an account with a company like Robinhood. The account is free to open. They even give you a free share of some company. On their platform, your trading is free and you can buy as little as one share. If you want to buy yourself some shares of your favorite company and you do not know where to do it, here is my link to Robinhood >>> https://join.robinhood.com/lorid134 I use Robinhood and I recommend the site too so try it out and see for yourself.
I want to repeat myself by saying once again that this pandemic will pass. I am no different than any of you and I am constantly trying to get updated information however, I am continuing with my every day schedule, working hard and building my dream. The point is that you can either let fear rule you or you can rule the fear. Be strong and do not let your thoughts of doom and gloom derail your progress. As long as God allowed you to open your eyes today, you have a brand new day to succeed and kick ass.
Right now there is one person that pops into my mind that is a no nonsense, tell it like it is bad ass and he is Gary Vaynerchuk. I want you to read his book Crushing It and learn to be fearless while moving forward. I have recommended this book in the past but if you have not read it, please go borrow it from your library. If they do not have it, here is a link to get your own copy from Amazon>>> https://amzn.to/2OHJCFg
If you choose to shop in Amazon, I would greatly appreciate it if you could use the link I have provided. As an Amazon Affiliate, it is possible I can earn a bonus and therefore continue to provide continued content we all enjoy. Thank you in advance!
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