I don’t really know why it’s took me so long to get into buying shares on the stock market. My best guess would be that I lacked the knowledge to feel comfortable throwing my money into something unknown. Which makes sense really. You wouldn’t buy anything without first knowing something about the product you’re buying, and only a fool would hand over their life savings to a shifty looking salesman they know nothing about. Yet that does happen. Just the other day I read about another grandma conned out of her pension, finessed into buying £6000 doors that she didn’t particularly want or need. I do wonder whats going on in the heads of the elderly. Do we get more gullible as we age or are these salesman tricksters out to find undiagnosed pensioners with mental health issues?
While my mental health is (arguabley) intact I set out to educate myself on how and where to buy some shares. I was well aware of the S&P500 index fund. It’s like buying a little piece of all the top 500 companies in the USA and for sure the safest way to invest, but it doesn’t offer the personal connection you get from buying into individual companies, which, admittedly is more risky, but where there is risk there is excitement and potential higher rewards. Plus I quite like the idea of having a share in a company like Virgin Galactic, helping Dickie Branson thrust people off planet earth.
When Lady Gaga’s up there floating around in space I can point to the sky and say, “Yeah, there she is with Brad Pitt up amongst the stars and I helped make that possible.” The same goes for watching a Disney movie or taking my regular flights with Air France. You get that subtle sublime contentment knowing you own a small piece of the pie that yourself and others get so much enjoyment from.
As I’ve said before though, I’m no investment guru. With any investment it’s important to remember there’ll be an element of danger. Unlike property which is where the bulk of my hard earned cash has went, stocks and shares aren’t quite so stable and can go down as well as up. To this I say HODL! which is the internets favourite term for long term holding (or Holding On For Dear Life).
Thanks to the government’s evil plan of inflating prices each year you can have more piece of mind knowing if you HODL rather than sell when prices drop (which is what most dumbasses do) then chances are the stock price WILL rise again. This is assuming you’ve done your research and haven’t just thrown your savings into a ponzi scheme.
Patience is the key here. Follow Warren Buffets advice, “Plan to buy and hold forever” and come retirement age you’ll have a good chance of some spending a tidy profit during your golden years.