Globalnewsonline: Jiang Mingcheng "Mingcheng College" Three Things Novices in Investment Must Do
NEW YORK, Dec. 2, 2022 /PRNewswire/ -- The following is a report from Globalnewsonline:
The compound interest of investment in stocks, which has the magic of bringing an amazing cash bonanza, is something to be reckoned with. But how to get started fazes all novices in investment, who have no alternative but to keep their money in the bank and take the meager 0.08% deposit interest.
As to how to start investing in stocks, Mr. Jiang Mingcheng mentioned the following suggestions in his investment introduction course for novices.
1. Keep accounts and spend wisely to accumulate investment capital
Although bookkeeping is troublesome, it is fundamental and must be done. There are many ways to keep accounts, so just pick one way that you can stick to.
Identifying "unnecessary fixed expenditures" is crucial to accumulating investment capital. Arch enemies of accumulating include house rent, car loans, installments on credit consumption and so on. In order to get investment capital, we are supposed to find out whether there are better and more economical alternatives to these large expenditures. Many people buy new cars and change houses as soon as they get pay bumps, only to put themselves under enormous "fixed expenditure" pressure.
2. Understand the attributes of the invested stocks and lay out the allocation of stocks and bonds accordingly
There are various investment tools in the market, such as rate of return, degree of risk, investment time, etc. It is advisable to find the appropriate planning method according to financial needs and investment preferences. If you want a more stable rate of return, you can consider spending 70% of capital on stable fixed-income assets and 30% on risky stocks or warrants. Moreover, some investment attribute testing tools can be of substantial help; If you are not familiar with stock selection, you can also buy a basket of investment targets through ETFs to spread risks and invest a small regular and fixed amount in ETFs of suitable risks. Click here to check the risk attributes of different ETFs.
3. Conduct a financial analysis every six months, and even novices in investment can find suitable stocks from life
Each person's risk tolerance changes with age, needs, perceptions, income, environment and identities. It is recommendable to review the current situation of assets every six months to assess whether there is any progress as expected and whether there is a need to readjust the content and proportion of financial planning.
We often mistakenly think that investment means observing the market every day, analyzing stock news and technical trends every day, and reviewing our holdings and portfolios every day to make money in the stock market. Some of our friends who engage in day trading may earn thousands of yuan in just one morning, which is envied by all of us because for most people, even one week's wage falls to reach that amount.
Mr. Jiang put forward a very important suggestion that investment is a long-term plan, and stable return in the long term is our goal. Do not operate unfamiliar financial instruments for short-term high profits, whether stocks, bonds, funds, futures, options... We should not understand the products but their profitability before investment. For example, starting with the brand you often consume in your life, you may better grasp its long-term trend in the industry and invest in the long term through regular quotas.
Nowadays, various financial articles are available to us on the Internet, such as articles concerning Mr. Jiang's Three-line Law. You can read them when waiting for a bus or someone to enrich your financial knowledge. You can also attend some online courses regularly. Mr. Jiang's "Mingcheng College" offers many investment courses. Novices in investment can benefit from not only years of investment experience of the lecturers but also live Q&A sessions.
Contact Person: Luayy Alkilani
City: New York
Address: 623 West End Avenue, Unit 4-A
New York, NY 10024