Yikes! Who would have thought it would be such a stroll! I’d never say all the voices inside my head.
You can start reading up on what stocks are and the whole shazam, but know this, you’ll in for a lot of things you should and shouldn’t know. I’ve been reading multiple weeks now and I figured why on earth did I read about those things like futures, options, leverage and those things while my chose will now lean towards ETF’S.
These weeks have been something alright. People saying, a, b, c, d, e, f, g. People scaring him or me. I don’t know. I don’t really. I don’t know what fears I should have towards investing. But I did learn to know what fear is. Oh, boy, do many people fear for their lives in the stock market? I almost learned to be fearful myself. Instead, I started reading more and more. My knowledge & insight is some sort of insurance. Then some funny looking guy with a nice smile told me. Analysis paralysis. Yes, he nailed it. He sold my start. Hope we can be glad about it. So it’s time to start trusting the mistakes I will makes. Ha! Let’s hope near to none!
So this is the beginning. I opened a low transaction-fee broker account. This account is great to me because it allows me to do free transactions and has very low costs all and all together. I didn’t do a transaction yet but let’s say a certain amount of money is now being wired to that account. Let me be clear I’ll never be giving out numbers on the internets. I don’t feel comfortable doing so, but that doesn’t mean you can’t follow my progress! I’d sure be happy to see some people pass by from who I learned in the past. 🙂
Anyway, I opened the broker account and the first thing I realized is that the Belgium government requires me to tell them I have a broker outside the country. Cool. I don’t know what the implications of this will be but we’ll see. Here’s a link for those who want to do the same one day.
Great isn’t it all these papers and all these things to do because you simply want to make a living investing. Gotta love a bureaucracy which by the way always explains to you what to do in the most complex words nobody really understands fully. But beware if you make mistakes then it’s your fault! Enough rant Mr2ndopinion.
All I’m saying is that you’d be well off if you inform yourself before taking the plunge into investing. Get to know which products are out there. Read about futures and hedges and all those things I don’t do just to get to know them. They are quite complex and I’m telling you to not get into it. There are people far more professional in it than you so you’ll be a yummy small fish to devour. Instead, read beginner blogs like this one or many of the others. I myself have read about 5 or 6 of these blogs. Of which 3 dutch ones!
What I learned from these readings is to keep it simple. Go for long-term savings and investing. Grab those compounding powers. Because compounding is your friend! Trusting your money in a buy&hold index is the best thing you can do together with friends! If this ritual continues for 10.000 of years we will continually profit! Just know that you have to get your savings in there early when you still can and when you are still young. The faster you start saving the faster you can lay your asses in the sand sipping a pina or whatever you like.
Geesh! My first post. I hope you liked it and to conclude this post I’m thinking of buying IWDA EUR ETF. I’m also thinking about diversifying later and buy some other ETF’s but at this moment I’m going to stick to just this one egg. My favorite saying is: “Stick all your eggs in one basket and sit on it. If that nest gets visited by the egg fairy or a nasty predator,… bite his or her head off”! You are fiery dragons after all!
See you, loveable dragons, around!