As i stated in previous posts, my job allows me to meet people of all walks of life. Today I was able to borrow fifteen minutes from someone who worked in the financial industry. I know that everyone reading this is saying to themselves, big deal I know accountants and stock brokers. The person I met was in their 90s, had been through the great depression, just celebrated their 70th Harvard reunion and they are worth millions of dollars.
If you were to see this person on the street, you would think that they were just another old person. I did not know that this person had a wealth of knowledge before hand. The topic came up when I was printing an email that one of her students sent her. I asked if she was a professor and she responded that she worked in the financial industry. After knowing that finances were their area of expertise, I started talking about my return in the stock market. As of writing this post I am currently up 20% in the stock market. Might not sound like a lot to some people, but the average return for investors is 7%. There in front of me was a financial mogul and as a young investor, I was not going to let this opportunity pass me by.
The first topic that we discussed was diversification. The old saying is true do not have all your eggs in one basket. The second topic that we discussed was investing in companies that pay dividends. The dividends will be reinvested and help with your gains. Next we spoke of investing mostly in companies that do most of their business in America. The final piece of advise that I was given was.... Don't pull out of the market, stay there for the dark times because it can always get better. Time is your biggest asset when investing.
I kept these topics vague, because I can't reveal all my secrets. The topics themselves are gems that I will live my investment life by. I recommend picking up some investment books to learn more. This person will be bringing me a list of stocks that they recommend and that list I will publicize