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Chapter 24. The Freedom Plan > 9. Be an active investor. Educate yourself and g...

9. Be an active investor. Educate yourself and give time to your financial freedom plan.

Make educating yourself about money a priority. Start simply with your bank relationship, reading the business section of your daily newspaper, and subscribing to a business or investment magazine or online newsletter. If you can attend investment seminars at no cost or low cost to you, do so. If you are new to investing, find a broker that you can feel stupid in front of, as I did. Be comfortable asking questions and if you are feeling intimidated, check your broker and yourself (you aren’t expected to know everything at this early stage). If the broker is not willing to explain things in a way that you can understand, find someone else who will. Let the broker know of your income potential and build a relationship based on trust and growth for both of you.

At one point, early on, my portfolio took a dive because I was invested in bonds during the worst bond market since the Great Depression. As I read my statement, I panicked and flew out the door to my bank and other financial professionals for advice and opinion. All anyone could say was, “This is a disaster.” It might not have been a lot of money in the grand scheme of things, but it was all of my money. I didn’t change brokers then, but we did make a deal. I took responsibility for not being more involved with my money. It was my money, after all, and he was a broker, not a financial planner who worked on a fee basis.


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