People are eager to share their New Year’s resolutions at the first chance they get, even if you don’t ask.
Research analyst Matt Clark will do the same this week Investing with Charles!!
Not many resolutions will last until February. It’s easy to lose a little weight or postpone more exercise.
When it comes to our money, things are different — or at least they should be.Let’s see how Matt and my own resolution can help you get better (and richer) Investor In 2022.
Check out some of the conversation highlights below:
How to set effective goals
Charles: If you want to succeed in your New Year’s aspirations, this is not just an investment. This can be anything, such as improving your life. Two conditions need to be met.
one, Goals must be realistic.. It’s good to push yourself, but you can’t decide to become Richard and Jeff Bezos within a year. That’s not realistic. You are prepared for failure at that point. You need to have achievable goals.
Second, you must be able to measure it. It must be measurable. You can’t just say, “I want to be healthier.” What do you mean? How do you measure it? I ate a smoothie instead of McDonald’s today, why am I healthy? You must be able to quantify it. You want to say, “I’m going to lose £ 10.”
You need something that can be measured so that you can work towards that goal. If you can’t reach or measure your goals, you tend to lose interest or focus, and that simply doesn’t happen.
Against this background, what is my investment resolution for the year? I have a couple.
First, let me tell you my resolution no..Me no I will decide to make more money. It cannot be quantified.And, I no I will decide to have a higher return on the stock market. It’s out of my control. That is the market.
My new year aspirations
Charles: Let’s start with the goal of savings: I Maximize my 401 (k) of the year..
This year it’s $ 20,500, so it’s about $ 1,700 a month. The goal is that if you don’t start early in the year, it will be difficult to catch up in the second half of the year. My determination is to stay focused, disciplined, and maximize that 401 (k) throughout the year.
Beyond that, I also decide Read at least one book a month..
I read 5 or 10 books a month. But life gets busy and it becomes very difficult to do it. The older you are, the more responsibility you have — children, finances, and everything else. At least I want to make enough time to read one fleshy, thought-provoking book a month. It doesn’t have to be investment related. I would like to make at least half investment-related or economic-related. There are no comic books and no pictures, at least because it’s a kind of plump, thought-provoking book on the moon.
mat: 3rd edition of Grand Admiral Thrawn’s entire manga series Star Wars Not on your list?
Charles: No, it’s not. Well, I could read it, it just wouldn’t satisfy my resolution here. That would be superfluous.
click here For my last resolution and the rest of the conversation with Matt.
Bonus: Matt’s crypto resolution
mat: I wanted to find something I didn’t have much experience with. Cryptography is one of them. The cryptocurrency epidemic will not go away soon. More and more cryptography is being introduced, which is becoming a new wave.
Now the country is beginning to adopt cryptography like the digital source China. China has developed wallets, and they are ready to go with the digital yuan, which is basically a cryptocurrency operated by the Central Bank of China.
My determination required learning, education, and concrete elements. So I want to do some research that is part of my job and find two cryptocurrencies that I can really lag behind and willing to invest my money.
So my solution is Investigate and find two cryptocurrencies that I can lag behind And I am ready to invest my own money.
Where to find us
The mat that will appear this week is Bull & Bear It’s a podcast, so stay tuned.
Don’t forget our check Ask Adam anything A video series where Chief Investment Strategist Adam O’Dell answers your questions.
You can also catch the mat every week The latest information on the marijuana market.. If you’re interested in cannabis investment, you don’t want to miss Matt’s weekly insights.
Remember, you can email me with my team Feedback@MoneyAndMarkets.com — Or leave a comment on YouTube. We love to hear from you!May feature your questions and comments in future editions of Investing with Charles..
For safe benefit
Charles Size More
Co-editor, Green Zone Fortune
Charles Size More Is a co-editor of Green Zone Fortune Specializes in income and retirement topics. He is also a frequent guest on CNBC, Bloomberg and Fox Business.
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