Never stop learning
Dollars and Good Sense provides valuable tips and insight on how to better manage your money. We always want to see our clients grow in their knowledge of their own personal finances.
Please, don’t keep these to yourself. Share with friends, family, and co-workers. And don’t be afraid to contact us—we want to know what you think and what you want to read about next.
Winning the Financial World Cup
“Goal!” You watch the game just for it, waiting on the edge of your seat. You pray that your defence is solid and that your goalkeeper can block all the opposing strikes. You do not want players simply running around for 90 minutes, no goals scored. Instead you want your team scoring goal after goal and ultimately moving on to claim the World Cup title.
Off-field, do you also want the investments in your portfolio to lead you to achieve your ultimate goal? Who are the “players” you will need to score goal after goal?
An Emergency Fund: Your Safety Net
If you lost your major source of income today, how long could you finance all of your expenses before being forced into debt? If a great investment opportunity became available now, would you be able to finance it while avoiding debt?
Life’s exciting journey shifts between opportunities and challenges, whose timing is outside of our control, and which require immediate cash. Many persons, when faced with similar circumstances, choose to withdraw funds from an investment or retirement account. This is not the best option; an emergency fund provides a better solution. An emergency fund is money reserved for life’s unexpected opportunities and/or mishaps.
Lessons From the World’s Best Investors
Would you rather learn from the world’s most experienced and knowledgeable investors or would you rather make all the successes and failures on your own? Here are quotes from investors who have been there, done that, and may have even written a book about it. There are also some great lessons to be learnt and takeaways for you, whether you are a big investor or small investor. First, test your knowledge of the famous investment quotes and important takeaways.
Are You an Investor or Speculator?
Are you a stock market investor or speculator? Both investors and speculators can make money on the stock market however the level of risk taken is different. Investors primarily focus on the financial analysis of the company and purchase stocks based on perceived good medium to long-term value, this approach has less risk. However, speculators try to beat the market by timing it, with little, if any, financial analysis of the company. For speculators the aim is to purchase ‘hot stocks’ and sell them just before the prices fall significantly; this approach is more risky.