Jan 22 2009
Use This Time to Get Your Financial Education
Whenever you are investing frequently, many times you are too busy figuring out which investment to buy to really educate yourself on how to take care of your money. And remember, no one else has a vested interest in your money than you do, so just like training yourself to cook and clean, and do a marriage right, you need to learn responsibility for your finances.
Suze Orman’s latest book, On the Road to Wealth is a great, up-to-date resource book to have around the house, or visit constantly in the library to get the skinny on any money topic you need. It’s surprising how many homes have an all around book to tell them about medical issues, but no resource guide for money. This would be the one.
If you want a year long project to prepare yourself for the day that making money in the market is as easy as shooting fish in a barrel, begin the study of this book one chapter a week. Don’t just read it and say, “What a nice chapter. I think I’ll get around to that sometime.” Embrace it. If it tells you to get your trust made, figure out how you can make that happen, and act on it. It’s the responsible thing to do. If it tells you to get disability insurance, what are you waiting for? Get on it and get it done.
The Road to Wealth is thick and meaty. You’ll need time to get through it. But tackling it one week at a time can make a huge difference by the time a year has gone past.
Visit Beth Rose’s Wear Many Hats for a different perspective for the informed investor.
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