As Christmas is coming, it means lots of signing of Christmas cards and letter writing. Some people are on schedule while others get way behind and spend most of November and December racing around trying to get all that is necessary done so that Christmas day is as enjoyable as it can be.
So of all the things that I might have said about investing, I haven’t really made it sound ‘sexy’ yet. Have I? The truth is, investing isn’t really very sexy. Pop stars are sexy. Carmen Electra is sexy. Investing is graphs, moving averages, Annual Report Design, company statements, calculators and work. Not so sexy. It’s kind of like being an accountant but with marginally more life and a few graphs.
The B.C. Securities Commission’s just-released company annnual report shows the commission collected $887,000 from stock market miscreants during the year ending March 31, down from $1.4 million the previous year.
If you have credit cards, get rid of them. Stop using the credit cards. The worse thing you can have is credit after bankruptcy. Instead apply for a secured credit card. Here you will have to deposit money into your credit card account and you can only use the credit card to the tune of the amount deposited. This will prevent you from spending beyond your means, the one thing that most probably is responsible for your bankruptcy. This type of credit card is excellent for building credit, but make sure that the credit card company reports your credit history to the credit bureaus.
Individual investors have a huge advantage over mutual fund managers and institutional investors, in that they can invest in small and even MicroCap companies the big kahunas couldn’t touch without violating SEC or corporate rules.
Generally, the more risk you have, the higher the yields can be. If you enjoy risk and want to make big-time returns, by all means go ahead and invest irrationally. But if you are risk-adverse, go back to the basics and diversify your portfolio.
While trying to make corrections to your credit report can seem quite time consuming, it is important to stay on top of because it really holds your future. Your score will hang over your head for the rest of your life, and you want to make sure there are no errors in it.