Monday, October 03, 2005

Want to get rich? Avoid the stock market.

"In one 22-year study tracking the careers of 1,500 men and women, 83 of whom became millionaires, the researcher found that not a single person in the study became wealthy investing in the stock market. In fact, most of the people in the study were still struggling financially after 22 years of work, and one of the main reasons was because they had lost so much money investing their savings in stocks recommended by financial advisers."
- Brian Tracy, Getting Rich Your Own Way

The moral is either to avoid taking the advice of financial advisors or to stay out of investing in the stock market.

People get rich by investing in the stock market. But they earn their riches from the losing investments of the small investor who doesn't have time to follow what the stock market is doing.

No way of earning money comes easy. Either you earn it with your own efforts at a job or you earn it with your own efforts by becoming an expert investor. Saving it under a mattress doesn't work because inflation makes its value less each year.

You need to become knowledgeable if you want someone else to earn money for you.

Bill Allin
'Turning It Around: Causes and Cures for Today's Epidemic Social Problems,' striving to make each person an expert at a few things.
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