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How do I grow my portfolio?
Well my friends, that's the million dollar question. Right of the bat I will let you know that this site is not intended on making anyone a day trader or professional financial consultant. This site will focus to give tools to the average person seeking to take care of his or her personal investments.
I would say the first thing you need to do if you are a regular person wanting to invest your money, 1. Make sure you have a good source of primary revenue, focus on your career
2. Focus on continuing education --> check out our sponsor e-sky solutions inc at www.e-sky.ca
Then the big question is how can you multiply and grow your HARD EARNED MONEY Well with market so volatile you will need to be careful and not enter the market in the same manner you enter a casino... this can't be gambling and can't be based on speculation and locker room talks. To grow your overall portfolio you have to: [keep coming back to re-visit site we will have article on each topic bellow and some online e-learning lessons from our friends at e-Sky Solutions Inc.
Understanding your RRSP Contribution (Canadians) or 401k (Americans)
Maximizing your tax returns
understand your risk tolerance -Every Period in your life requires a different strategy --Keep eye on target
Learn to look at your financial situation as one Large Portfolio (all assets, cash, retirement) to make sound strategy
Have clear goals (document your goals)
Be Diversified (NEVER PUT YOUR EGGS IN ONE BASKET)
Steady Growth --> Long term gain
Do not be emotional -- money has no feelings and neither should you when you deal with it
The Importance of CASH $$$$ in your portfolio ---> do not underestimate the power of liquidity (this is Warren Buffet's biggest asset)
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