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Friends and Investing 
Get Approved for Your BHPH loan before You Walk into the Car Dealership / Apply Here
Okay, so we probably all have that one friend who insists they know everything
when it comes to their investments, and well, our investments too. They think
that they have never had any problems when it comes too money, and they will
never steer you wrong when it comes to making the right move with your
investments. Here’s the problem; there is something they’re definitely not
telling you. Thus, when these people tell you it’s a no brainer or its common
sense to make certain investments, do yourself a favor and consult another
friend, or do your research yourself.
This of course is not just for the sake of your money, but also for your
friendship. Many times what may have seemed like a good investment was actually
a huge mistake. Thus, you need to turn to the experts, and not your friends.
Take investing in the stock market as an example. Even if your friend is a stock
broker, do your homework on their work before you buy, buy, buy, or sell, sell,
sell. Also, remember the unpredictable nature of something like the stock
market, because even the best of the best have been wrong on a great many
occasions. One of the most important things to remember is that when it comes to
investments, you should take sensible risks, and you should never feel as though
you are overanalyzing things too much.
Yet another myth when it comes to making it count with your investments is that
you should always strike while the iron is hot. What this means is that while
the investment is “booming,” you should take advantage of it, and go for it. In
many ways this type of thinking can also come from your friends, who heard
something great on an infomercial, radio ad, or even at a seminar. What usually
happens is that the person who wants you to invest starts number dropping about
how they are now worth $ 2 Million dollars, and that’s why you should invest in
what they’re doing. The problem with the 2 Million dollar statement is that,
it’s just too general. How much did this 2 Million dollar person start off with
when they first got into what they’re into? Usually they started off with a much
larger investment then what they have made from the business, but by dropping a
big figure, they’re able to sucker people in to their scam.
Friends are great, but let’s face it some aren’t always that great when it comes
to money and investments. Also remember that you can warn your friends and keep
your own sanity by remembering not to be blown away by false figures that will
end up costing you big in the long run. Lastly, common sense and no brainer
investments don’t exist, because every investment takes into factor a risk of
your time and money, so don’t let anyone tell you differently.
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