jake bernstein - dearborn trade publishing - no bull investing

[...]... worker may not be the right investments for a 35-year-old surgeon The right investments for a college student who has a part-time job may not be the right investments for a middle-aged housewife who runs a small business part-time out of her home The right investments for someone who earns over $500,000 per year may not be the right investments for an individual whose income is in the $100,000-per-year... grow is not like learning to play a game of Monopoly Learning how to make your money grow cannot be achieved by sitting in a one-hour class or seminar on investing It’s not as simple as following the advice in a newsletter or taking a stock tip from a friend or relative But it is not nearly as complicated as you might think One thing you will need to remember: Take your time Don’t rush into investing. .. and failures Think about your relationships I will elaborate on this highly important fact of life repeatedly throughout this book For now, take my word that life is full of 12 NO BULL INVESTING patterns, and that if we know the patterns—of life, of investing, and of economics—then we have improved our odds of success substantially Time Is More Important Than Price We are all preoccupied with price We... Although success does indeed depend somewhat on social status, education, political connections, and family wealth, these are not always prerequisites Many self-made millionaires have started with virtually no education, no money, no family influence, no political connections, and no assistance These individuals have made their fortunes based on an idea, on talent, on motivation, on hard work, on persistence,... an eternal student, either 22 NO BULL INVESTING DO IT ALONE OR GET A PARTNER? Now you must make yet another decision before you begin to invest your money You must decide whether you will learn the business of investing on your own or with a partner There are good points and bad points about each of these avenues I will examine these more fully in Chapter 9, but for now consider these points: Ⅲ Working... much better in the United States Although we were not wealthy by any stretch of the imagination, we did manage to buy a home, a car, and other “creature comforts” that made life more livable Getting enough food and clothing was no longer an issue for me And I was no longer afraid of being beaten, tortured, or killed by street gangs I could walk 6 NO BULL INVESTING to school without looking over my shoulder... give too much and then become bitter about not having 26 NO BULL INVESTING enough time for themselves I have been guilty of doing so myself Remember that without proper planning and investing, you may be limiting the ability of your children to attend the college or professional school of their choice When you plan and implement your investments, you’re doing so not only for your retirement but also for... people looking at the same information will not necessarily reach the same conclusions That’s why there are buyers and sellers in any market A piece of property 19 20 NO BULL INVESTING that may seem expensive to one person may be an amazing bargain to another Where opportunities abound for some people, only risk of loss exists for others The first thing you must know about making your money grow and becoming... help anyone achieve the American dream, no matter the level of education, social status, and current profession A FEW OF THE THINGS I LEARNED AND WHY I WANT TO SHARE THEM WITH YOU My experiences have taught me valuable lessons that everyone who wants to achieve financial independence should know and 10 NO BULL INVESTING take to heart Although some of the lessons may not seem especially relevant to you... your goal of wealth if you are one of the millions who were not blessed with unique skills or talents, family money, or political connections Finally, even though there are many avenues for success in a free economy, some methods are more easily implemented than 4 NO BULL INVESTING others Some require less work, and some require less start-up capital Although I will introduce you to a number of ways . Congress Cataloging-in-Publication Data Bernstein, Jacob, 194 6- No bull investing : straightforward advice to maximize your returns in any market, with any amount of money / Jake Bernstein. p. cm. Includes. Special Sales Department to order or for more information, at 80 0-6 2 1-9 621, ext. 4404, or e-mail trade @dearborn. com. ii NO BULL INVESTING C ONTENTS Acknowledgments vi Introduction vii PART ONE PREPARATIONS 1 some- what on social status, education, political connections, and fam- ily wealth, these are not always prerequisites. Many self-made millionaires have started with virtually no edu- cation, no