This is not the first time you’re reading this, right?
To be honest, this topic has been covered 1,543,968 times already. So why am I doing it again?
Because whenever the stock market crashes, most advise are flawed. I’m not saying they’re wrong. Just flawed. Specially for beginners.
Here are some of these advise, plus my explanation why they’re flawed:
Flawed Advise #1 – Stay Calm.
This one’s hard for everyone! Let alone to a beginner like you.
The thing is, they’re asking you to calm down while your portfolio goes down. Not a chance.
Plus, not staying calm is good sometimes. It’s uncomfortable. And when things get uncomfortable, you move. You do something.
Flawed Advise #2 – Stick To Your Plan.
The ugly truth? You don’t have a plan. Not yet. And you know what? That’s okay!
You’re just starting out. Although they say that you must have a plan first before investing, the reality is that you really build your plan while you invest.
On a personal note, I only figured out my plan when I was already investing. More about this later on the video below.
So right now, this advise does not apply to you yet. I’d rather you have balls today, than a plan.
Note: Don’t mistake not having a plan to not studying. Aral muna bago invest (thank you Sir Aya Laraya)
Flawed Advise #3 – Ask Mentors.
Ahhh yes. Mentors.
I have to admit. They’re right. You should ask mentors. Funny thing is, most mentors just tell you to stay calm and stick to your plan. Haha!
That’s really not helping.
Bottomline, all these things are flawed because they don’t ask you to do anything but stare, while your portfolio continues to bleed.
The Unconventional Advise.
As promised, you’re not gonna hear those from me. You should know that when I started investing, I didn’t have the luxury of social media and blogs. That’s why I did things differently. At least that’s what I think.
I filmed it on video so you can understand better. Watch it below:
Note: The original plan was to post this in my own blog. Since this is Omeng’s blog, there is no email form below. BUT… You may click on the link at my author bio at the end of this article. The video will be available there..
Note: The original plan was to post this in my own blog. Since this is Omeng’s blog, there is no email form below.
You may click on the link at my author bio at the end of this article. The video will be available there..
I guess there’s nothing more to say here anymore since I’ve already closed it in the video.
But if you know someone who can benefit from this video, share it to them. You’d be able to help them, Omeng, and me of course.
I’m really eager to know what you think about it. Please do leave a comment.
Carlo Mercado is a financial freedom advocate and a personal finance lab rat. He believes in the crazy idea that you can retire early, without millions in the bank or stocks. Click here to Watch his FREE “No Millions Needed” Retirement Blueprint video training to learn more.