As a former pastor and successful business owner, I always have people asking me how and what to invest in? I always start by asking them what products or services do they use most often in their daily lives? What company makes or offers said products and services? Then I suggest they invest in the companies that sell the products and services they most enjoy using. As a homemaker if you really like and use Clorox Bleach and a number of your family and friends use the product and has for years you may want to consider investing in the company that produces Clorox Bleach. If you like and drive Ford Motor cars, you may need to add Ford Motor to your investment portfolio. I do not fancy myself as an investment advisor or broker but I do believe good common sense should play a role in how we invest. For instance, when I began to invest back in the early 1990’s I was hungry for quick growth and fast money so I invested top heavy in Dotcom stocks, companies with no history just a good idea and the market at the time loved these startup organizations. Needless to say I lost a lot of money with this invest mindset, but at the same time I invested in companies that I really liked, used their products and services and made significant streams of income. MetLife, Microsoft and Wal-Mart to name a few have been very kind to me over the years. Seek out professional and trustworthy financial advisors to help you develop a good sound invest strategy and start today as “time waits for no man/woman”.
January 6, 2013