5 investing mistakes that cost me over $1,000 and how to avoid them
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Note: once you find a company that produces products people need and use daily, take a look at their cash flows statement. Make sure they have enough free cash flow on hand to continue paying a sustainable dividend. Learn how to read a cash flows statement, it will tell you 80%+ of what you need to know about a stock.
I started writing online to help others improve their financial literacy. My goal was to share the information and knowledge I learned along the way to help you maximize your earning potential. It’s common for investors, especially beginner investors, to seek out information about how to make MORE money. What stocks to buy, when to buy, etc.
People like this often watch videos or read through Reddit posts about the hottest stocks on the market and try to make a few quick dollars by entering into a position based on what others are saying.
From experience, taking financial advice from random people online is a bad idea. Especially if their advice is to “buy this one stock that will 10x in less than 6 months”
If you haven’t noticed yet, that is a good way to lose a lot of money. I’ve been a victim of it as a young investor who was strictly looking to hit home runs.
The funny thing is, these people like to pump up stocks because it gets them clicks. Unfortunately, they target beginner investors who are looking for some “guidance” because they’re the easiest to manipulate.
You’ll notice that these people will never share how not to lose money, so I’ve decided to take it upon myself to fill that void for you.
Making money is great, but the trick to building wealth is keeping the money you already have.