The Daily Paul has been archived. Please see the continuation of the Daily Paul at Popular

Thank you for a great ride, and for 8 years of support!

Comment: My advice.

(See in situ)

My advice.

Having Just turned 30 I can give a little advice to the youth of the DailyPaul. My first piece of advice is to learn about economics and economic history. This is the first step you need before learning how to invest in anything because it teaches you the macro view of the whole world and how it really works. Studying the entirety of economic history makes you able to spot trends that have happened in the past such as when markets are in bubble mode, when to buy and sell. etc...

Once you have a good grasp of different schools of economic thought and economic history move on to studying investing. Start by dividing it into 3 branches. 1. Stock and Bond investing.2 Real estate Investing. 3. Starting your own business. Spend about 6 -9 months studying each branch until you have a decent grasp of it, then decide which one you'd like to specialize in and learn more. Grab every book on the subject you can once you have decided and dig in for a year. After a 3-4 year period of studying economics and investing start doing it in real life and enjoy the benefits of knowing you can create a life for yourself outside of being an employment slave like every other cubicle drone American.

I still work a regular job, in fact I work two jobs rights now 60+ hours a week, but I also make passive investment money from a shared commercial property and from stock dividend checks. Once you start getting checks in the mail for simply investing and never having to go anywhere you learn the power of money and the feeling of self empowerment. I believe investing is for everyone, but you should spend a couple years studying before jumping in or you will get burned.