Do You Need To Make Your Money Work Harder?

Do You Need To Make Your Money Work Harder?

If you are anything like the rest of us, life is becoming harder financially. In days and years gone by, it was easy to put money in the bank or into a stock fund and simply forget about it. As time passed, it would have increased and life was good.

But the world is changing rapidly. Globalisation is increasing demand for everyday goods around the world. This is pushing up the price of nearly everything. Inflation seems to be rising and wages are not keeping up. The purchasing power of money in a bank account seems to be falling - fast.

If that wasn't enough, financial companies seem to be handing the risks in our investments over to us. If you have heard the words 'self-invested' when applied to your pension planning, you will know that things are changing.

On the one hand, being able to choose how to invest for your retirement sounds liberating! But on the other, it brings massive responsibility. If it goes wrong - and it might - only one person is responsible. That person is YOU!

This is a massive change in responsibility for the future of you and your family.

What can be done about it?

The obvious place to start is in building up an increased financial knowledge. Whether you choose to take full responsibility or not, you clearly have some work to do.

Finding your way to a website like this with lots of free information was a good start. Well done! But there must be more. Simply gathering knowledge will not make anyone wealthy.

That knowledge needs to be put to profitable use.

It is important to try and define your strategy. Some people are suited to long-term investment and others to trading. Some have time to spend thinking, analysing and researching whilst others do not. Some people are very aggressive with their money and want big profits, whilst others are more cautious.

However you view yourself, there is a trading approach for you. Whether you need to increase the value of your capital or add an extra income stream to help the family finances, you need to take more control of your money.

Many years ago, investment newsletter writer and guru, Harry Schultz, suggested this: "Trading is for orphans and widows, investment is for gamblers." He thinks we should all be flexible in our approach to money. Markets rise and fall - why bet on them going in only one direction?

Skilled traders can make money when a market rises, falls or moves sideways!

However, most traders don't!

Whilst in theory traders can make money in any market conditions, the reality is that most are broke within a year. The ones that learn and survive can make vast amounts of money. It is an all or nothing business.

But economic problems mean that even experienced traders need help. The issues in credit and banking markets, market volatility and global political turbulence make it difficult - if not impossible - for one person to work successfully alone. We all need some help!

Most if not all successful traders subscribe to some form of market advisory service. You might know it better as a financial newsletter. Of course in the internet world, it isn't how we might think of a newsletter!

These services have a different perspective that can help any investor to see through the fog of market movements. They also suggest trades - some daily and others weekly - to help produce the profits that pay for the service and more.


http://www.stockexchangesecrets.com/online-trading-service.html