Share this Page URL
Help

Lesson 1. Confronting Your Fear of Stock... > Stocks Are Only for Millionaires - Pg. 4

Confronting Your Fear of Stocks 4 In addition, don't try to learn every aspect of every financial vehicle in every market in the world. The terminology is massive, because the financial marketplace itself is massive. Start out small and work your way up. The focus of this book is stocks and their corresponding markets. Save learning about the bond market until next week and foreign currency exchanges until the week after that. Eventually it'll all come, you'll see. Caution Remember that your own money is on the line. If an investment is worth your hard-earned cash, then it's certainly worth taking the time to understand all the information available on your investment. Finally, and most important, if you don't understand something, either look it up or ask. It is absolutely imperative that when you first learn about the stock market, or the greater financial community, that you fully understand the basics. Subsequent information will grow increasingly complex and most, if not all, of that information will be based on the assumption that you are already familiar with the more basic processes. If you are not, the potential for disaster is greatly increased. Also, even in the more complex processes, ask for clarification of anything you don't understand. Chances are if you don't understand it, others haven't understood it either. Stocks Are Only for Millionaires The belief that stocks are only for millionaires is probably the most common reason why people avoid the stock market. There is a circular train of thought that says that the reason people believe that stocks are only for millionaires is because everyone who buys stocks eventually becomes a millionaire. If only this were true ... the reality, however, is substantially different. This impression is probably based on the numbers bandied about in the financial markets.