You Should Be Learning to Trade Instead of Watching Sons of Anarchy
The millennial generation has embraced the art of binge TV-watching. They made fun of it on Portlandia, and the Wall Street Journal has analyzed it. According to them, 73% of viewers who watched the first episode of Breaking Bad watched the entire season (although it didn’t say in how many days or weeks). I think we need to apply some of that dedication to our investment practices. How much time do you spend watching television versus time spent researching investment opportunities? If you spend more time watching TV than researching investments, it may be time to tip the scale in the opposite direction.
There are plenty of investment opportunities that don’t start with “mutual” and end in “funds”. You guys know I don’t think mutual funds are the way to go, but I haven’t been very strong about telling you what I am doing with my money. Since I am just over two months away from paying off my debt, I need to make those decisions and put them down on paper so I can continue to refine them.
First, I plan to invest in real estate. That’s a no-brainer because it is one of my goals in life to become landed gentry. The good news is I don’t plan to buy too much house or let my mortgage be more than 20% of my monthly gross income. Since there will be additional funds to invest (now that I am no longer spending like a maniac), I also plan to invest in individual stocks and ETFs. The ETFs help because I am very new to active investing, and want to experience and understand overall market returns. This stuff is not new to me, even though I have studied it for a long time, it means little when you are not invested. Another option is forex trading. My family travels to countries in the Middle East where the currencies can fluctuate wildly, and there are many opportunities to make money during different swings in the market. It’s risky if you don’t know what you’re doing, but with the right research it can pay off nicely.
So there you have my basic investing plan: real estate, individual stocks, ETFs and forex (maybe). I still love watching television, but I want to spend at least as much time doing financial research each day as I do watching television (it’s Sons of Anarchy right now).