Newspaper Article Archive of
The Kalona News
Kalona, Iowa
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Newspaper Article Archive of
The Kalona News

September 30, 2018 Tips for Taking Control Over Your Financial Destiny
Article Pages -- as published on the The Kalona News website.

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ARTICLE DESCRIPTION:

(StatePoint) Whether you’re a novice or experienced investor, there are steps you can take in order to take control of your financial destiny, and you don’t necessarily need a professional financial planner to do so, say some experts.

“Many individuals are quick to hand over responsibility for their future to financial advisors and fund managers in the hopes of achieving better returns than they could on their own,” says Dale Gillham, an analyst, financial educator and author of the new book, “Accelerate Your Wealth: It’s Your Money, Your Choice. “If you’re looking for the best person to handle your investments without any conflict of interest, look no further than yourself.”

From losing money to being misled to falling victim to dubious investments -- such mistakes are not only prevalent, they’re also avoidable, says Gillham (<a href="http://www.wealthwithin.us" rel="nofollow">www.wealthwithin.us</a>), whose new book can help empower readers to confidently invest in the stock market.

Indeed, Gillham shows you how you could have grown the value of your portfolio over the past 10 years by over 400 percent just trading stocks on the Dow Jones Index (DJI) and significantly outperformed the returns achieved by the majority of fund managers.

To help you get started, he is offering these quick tips and insights.

• Know your goals: Once you’ve identified your goals -- for example, are you seeking growth, or growth and income -- develop a watch list of stocks to suit them.

• Be comfortable: All stocks have their own personality. Some stocks are high risk, providing higher returns, while others are slow and steady. Consider the time you have available, as well as your skill and knowledge level, to find stocks that suit your risk tolerance. (Keep in mind, you can ultimately lower your risk by not straying too far outside the top 150 stocks on any market.)

• Protect your capital: Most people spend more time deciding where to go on vacation than they spend selecting stocks to buy. Protect your capital by doing your research.

• Think small: There’s a common myth that over-diversification is beneficial. “While this makes the brokers money, it does very little to enable you to generate wealth,” says Gillham.

Smaller portfolios -- between five and 12 stocks -- are easier to manage and represent lower risk. That said, never invest more than 20 percent of your total capital in any one stock.

• Stay focused: Eliminate emotions, such as fear and greed from the process, taking care not to get caught up in the roller coast ride of the market’s highs and lows. Strive to trade from an objective and detached perspective.

• Leave it be. Don’t overcomplicate trading by trying to predict the next best thing. Find out what you’re good at and keep doing it instead of chasing the next pot of gold.

• Trade with the trend: Trading with the trend is about adhering to the laws of supply and demand. Become a smart trader who recognizes momentum early and rides with it.

More information about the book can be found at bookstores and online at <a href="https://www.amazon.com/Accelerate-Your-Wealth-Money-Choice/dp/1643071319" rel="nofollow">Amazon.com</a>.

“Investing is less complicated than you might realize,” says Gillham. “With some simple knowledge of proven strategies, you can build wealth on your own.”

Photo Credit: (c) Natnan / stock.Adobe.com

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