J.D. over at Get Rich Slowly writes that sometimes it pays to ignore the financial news. It’s great that the Dow hit 10,000 yesterday, but he warns to not try and time the market. Nobody knows what the stock market will do. JD advocates investing money at regular intervals.
Maybe you tell yourself you want to own your own business, but it’s too risky. So you make an investment plan, create an automatic withdraw to fund your Vanguard accounts and continue driving to that same old uninspiring job for a steady paycheck. Between all that commuting, family life, and earning money for your boss, how much time do you have to research those publically traded companies you are investing in? Didn’t we just read nobody knows what the stock market will do, and that includes the brokers who live, eat and breathe it.
I’ll tell you what I know. Invest in yourself. Invest in your own business. Find an industry with good margins that appeal to you. Then choose a franchise that has worked out the bugs. Learn their operations plan and then execute it. Pour yourself into your business.