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December 1, 1999
Living Below Your Means
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Re: ANY IDEAS??
Hi all.. I recently opened an E-Trade account worth 4000.00 and gonna be my frst time to invest in the stock market, I've been reading a lot about people who start with much less that that and now they mass a good fortune. how [do] they do it?? is it wise to start in options? I need some ideas from experienced people.
You won't get there by always swinging for the home runs, which is what I think options trading is, because you're more apt to strike out than strike it rich. You will get there by going slowly and steadily and understanding what you are doing. Most people start out with a little bit of money and continually add to it, so it grows over time. I started investing about 20 years ago when
|"You will get there, and you will get there starting with small sums of money."|
Don't be in such a hurry. Take your time to learn all you can and understand what your options are. Read the 13 Steps to investing here on the Fool as well as a couple of their books which you can get at the library. I also recommend that you check out the NAIC and their website at www.better-investing.org as they have a similar philosophy to the Fool. Invest regularly in good quality companies. Reinvest your dividends. Invest for the long term. You will get there, and you will get there starting with small sums of money. But you have to give it time. Most people do not get rich overnight. It's wonderful if you do, but don't count on it, and plan to do like the rest of us.
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