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How to Set Yourself Up to be Rich

how to get richThis article will give you some steps you can take in order to make yourself a very wealthy person. Depending on your age, commitment, and focus, you can make yourself very wealthy. I’m going to show you how.

With some dedication and planning, you can become a very affluent and wealthy person. This article is not intended for people who are close to retirement although some of the ideas can help you as well. However, the article is aimed at people who are college age on up to 40 years old. If you follow the advice I’m about to share with you, you will more than likely attain a large sum of money.

The first step before you do anything is to pay off any debt you may have whether it is student loans, a car payment, or a house payment, or a credit card. This is important because you will eventually have to pay off this type of stuff. Why not pay this off as soon as possible and then start putting your money to work for your as I am going show you rather than try and put money to work and pay off debt.

The next step is to open one account and start saving money in it for a rainy day. This is important. Having an savings account with ideally 6 months of what your salary from work is will come in handy should you ever find yourself out of work for an extended period of time. Strive to keep in this account 6 months worth of what you make. So if you make $24,000 a year, you want to build this account up to about $12,000. If you start making more money then adjust this account accordingly.

After you have done these two steps you want to open up a brokerage account or an account that lets you invest in stocks. I say stocks because this type of investment will make you a lot of money if you play your cards right. Now pick stocks that I called dividend plays. These are stocks that pay out a hefty dividend for each share you own and have increased it’s dividend payout for many years. I personally own the stocks Altria (MO) and ATT&T (T) right now in my stock portfolio. Altria for example pays out $1.36 for each share you own and ATT&T pays out $1.68 currently. If you own enough of these stocks you can receive a steady stream of cash every 3 months when companies like these pay out their dividends to their shareholders. And if you own so many, you may be able to stop working and collect your checks from these companies in the form of passive income.

You also want to set up a 401K if your job offers one and/or a IRA account and deposit as much money into these accounts as you can. I would say the younger you are, the more you want to deposit your money into stocks and as you get older start gradually placing an equal amount of money into your 401K plan and IRA account should you decide to open these accounts up. Either way, you should be trying to put as much money into these accounts.

Lastly, I spoke a little about passive income already. But if you want to truly be rich, your goal should be to have as little of your income made as earned income. Earned income is when you are working for someone and you are working for a check. Your ultimate goal should be to create and have as much passive income as you can. With passive income you sit back and really don’t do anything and watch your money come in monthly.  The best way to earn passive income is through tools like stocks that pay out dividends, royalties from things like books, songs, or blogs, and also real estate stop foreclosure Houston and owning properties that people pay you to rent out or live in.

In conclusion, if you can apply all of these ideas to your financial situation  you will indeed become wealthy and start bringing in a lot of money. It isn’t going to be easy but it also isn’t impossible. It just takes some work, focus, and a plan.

stock broker average salary

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What Is Stockbroker’s Average Salary?

If you’re looking to become a stockbroker, one of the first things you probably want to know about is how much money you’re going to make.

A stockbroker average salary according to the US Bureau of Labor statistics is about $70,000 per year. But more realistically, a stock broker salary is probably much less on “average”.

The only problem with looking at their numbers is the reported $70,000 is an average of all stockbroker salaries. I know for a fact most stockbrokers make nowhere near that. And a select few make millions of dollars a year. So the data is quite skewed.

I believe a more accurate number for especially newer brokers is more along the lines of $30,000 a year.

But remember, the longer your broker, the more money you should make.

This makes sense simply because the longer you are actually working on Wall Street, the more clients you should be getting. The better at your career you should be getting. The more connections you should be making.

And this would be the same in any sales career.

How do stockbrokers make money?

If you’re going to become a stockbroker one thing you really need to understand is that you’re not going to be looking at charts and graphs in trying to pick the best stocks for your clients to be buying every day. That’s only on TV.

The reality is you are a sales person. Just like the other sales job, your job is to sell. And if you can’t, you’re never going to make it on Wall Street.

So if you’re thinking about being a stockbroker as your life’s career choice, the first thing you need to start doing is honing your sales skills. say Steven from We Buy Houses.

This includes reading excellent books that teach you about sales strategies regardless of what niche they are in. Going to training seminars even if it’s it on your own time and you need to pay for them yourself.

And if you really want to learn about sales and what it takes to be a stockbroker, you could always just go in work a few days for someone for free. This is one of the best ways to learn the ropes.

Not only that, but you’re going to have the opportunity to talk to a bunch of stockbrokers as well. You be able to ask them how much money they’re making each year. How much work they have to do in order to make that money.

And of course you’ll also know for a fact what it takes to be successful as a broker. You’ll see their daily stresses and accomplishments.

Sometimes a big salary is always worth the stress. And I can tell you is a fact, because I’ve been a stockbroker on Wall Street, there is a huge amount of stress when you’re playing with other people’s money.

People don’t like to lose their money. And if you’re not watching out for your clients, and sometimes even if you are in the market just tanks, you will hear about it.

So you going to need to decide for yourself if a high salary is worth the stress.

And like I mentioned before in this article, when you’re a new broker your salary isn’t going to be very high at all. I would guess about $30,000 a year for your first year.

But if you can keep going after that, you most definitely could be making millions. It’s all up to you.…

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5 Great Tips for Investing in Stocks

To be successful when investing in stocks, there are a few things you need to make common practice. There is no golden rule or magic solution to trading and stock markets. It is about understanding, knowledge, and spotting patterns. Use the following tips to help you make the best of your stock investments.

Don’t allow your emotions to control your decisions. With stocks, you cannot allow your emotions to get in the way. Greed, desperation, and over-confidence are often what gets people in trouble. They make hasty decisions and lose lots of money. You need have a temperament of control to ensure that you make the right investment decisions.

Don’t just let a stock go. Every investor finds themselves in a position where they start panicking and want to get rid of stocks. Don’t make rash and snap decisions. Make a list of your stocks and why you bought them, why you would keep them, and why you would sell them. Base your decisions on this.

Follow simple strategies. There are three basic strategies that most investors make use of. Dollar-cost average, buy in thirds, and buy ‘the basket’ are the three well-known strategies that many investors make use of. This will help you to reduce your exposure to price volatility.

Invest in companies. It is no use keeping track of ticker symbols and investing based on them. You should have the approach of a business buyer when you decide to start buying stocks. Do your research on the companies that may become your business partners. Or invest in areas you have a personal interest in like buying a star NASA.

Avoid over-activity. If you are constantly tracking the market for your long-term investments, you are setting yourself up for over-activity and potentially bad decisions. Avoid this by sticking to your quarterly reports and a few check-ins. Don’t drive yourself up the wall unnecessarily.

These tips are based on experience and advice from some of the best investors in the world. Use them and enjoy the stock market.…

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Important Things to Remember Before You Start Buying Stocks

Investing and trading is a serious business and should not be approached lightly. Before you start buying stocks and making decisions randomly, have a look at our tips. You are using your hard-earned money to fund your trading so you should go into it with some preparation.

Do your research. This is the most important step when you get started. Learn as much about the stock market, the sector, and the different stocks. Research different apps, websites, strategies, and tips. Read up on what the experts have to say and learn from their mistakes and experience.

Nothing is a sure bet. Stocks are unpredictable and there is no such thing as a sure thing. There are many different ways to determine what the best decisions will be and predict what it may do, but there is no guarantee.

Follow your instincts. If you have doubts about how a company will be making money, stick with your gut. The best thing to do is stick with what you understand and follow your instincts. It is important to do research on companies you may want to invest in. It doesn’t matter what kind of company it is or what businesses it performs. Even a space funeral service can be profitable enough to invest in.

This will give you an overview and idea of whether they can be successful investment options.

Decide long- or short-term. Before you invest, you need to decide if you want to make money right away or if you want to invest long-term. The short-term options are often a lot riskier and will require your full-time attention to ensure you don’t lose everything you’ve invested.

Don’t pay for advice. Brokers and self-help books that cost you a lot of money is probably a waste of that money. No-one is going to sell their trade secrets and compromise themselves. You can find great advice and even brokers online that can help you and guide you for a fraction of the cost.

Remember these things before you start buying and investing in the stock market. The more research you do and the more knowledge you gain, the better you will be prepared to get started with your stock market journey.

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Top Apps for Beginner Investors to Get Started

Getting started with the stock market and investing can be a bit frightening, but luckily there are great apps to help you. You no longer need a broker as you get all the guidance and practice online. What makes these apps great is that many of them allow you to practice without money before you start investing your actual money.

These are the best apps to look at when you are just getting started.

Stock Market Simulator


You can invest virtual funds while playing the US stock market before using your real money. This gives you the opportunity to get a feel for how things work and how you can recognize good and bad stocks. This is a very good way to get an understanding of how the stock market works.

Yahoo! Finance


People are loving this app due to its sleek design and user-friendly nature. You can sync your stock portfolio across different devices and you can do quick stock checks before making decisions through the app. This is definitely a good option for beginners after using a simulator.

Bloomberg


This app offers a great combination of stock and trading information and news and other news. It is the only place you need to go to find out everything that is going on in the world of finance and other areas.

SigFig


This is a very good app to use once you are comfortable with the stock market. The app is known for its investment tools and allowing its users to manage and track all their stocks through the app. You will receive updates, news, and advice through the app and get free portfolio management for the first $10 000.

It is always wise to first try a simulator app before you start investing your hard-earned cash. Once you have the understanding ofhow things work, upgrade to a full stock and trading app. Each app has its own way of doing things, so try them out and choose the one that you like.…