Fear, Investing and Gambling in the Stock Market

I invest in income producing stocks inside my RRSP and rarely touch them now that I've decided on the right mix for my wife and I.

When I blog about my exploits in the stock market I'm just documenting what I'm doing and trying to be as transparent as possible while doing it. You don't like it or don't do that, well good for you. Take your troll show somewhere else and maybe you'll find your doppleganger elsewhere. 

The fact is we all make mistakes and have different strategies. Most of us suck at saving and investing. It has been reported that Canadians owe $1.75 for every $1 we make. Now, that sucks.

How do we get ahead?

This short clip called Mark Cuban's Guide to Getting Rich .

Please don't confuse this with get rich quick schemes. It's not. It just might help some with guidelines.

One of the rules he talks about is gambling with 10% of your money which is what I have been doing with my portfolio. I post updates on Monday and at the end of trading Friday.

When I make a trade, I will try and update my blog on what I'm doing. 

He also talks about investing most of your money in an index. All I've done is taken that allocation and invested in individual DG stocks for retirement. I have pension income that is indexed so I don't bother with bonds or preferred shares of any kind.

You do things differently? That's great. 

I NEVER USE MY RETIREMENT MONEY TO TRADE IN AND OUT OF STOCKS!

Looking for Saving Ideas so You Can Invest? 

If you are looking at ways to save money this new book The Cashflow Cookbook can help you find some savings to then use to invest.

If you are having trouble getting your financial house in order and organized then you need to read Worry Free Money. 

If you are further looking for portfolio ideas then you might find my review of The 6-Pack Portfolio a way for you to get started on your investing journey. All of our retirement money is invested in this manner. We just hold more than 6 positions.

If you want to read more about the theory and methodology of some of Canada's professional investment/portfolio managers then you need to pick up a copy of the book 'Market Masters'. Robin Speziale conducts interviews based on a set of pre-arranged questions. This will give you a real insight into how others invest money and how they think. A must read!

Looking at Income Investing?

All retirees should be income investors. My opinion.

Please pick up a copy of Henry Mah's new book 'Your Ever Growing Income'

How is your week going so far?