investing articles businesses business management business marketing Technologies finance accounting Industrial Manufacturing starting a small business Investment health information

Abundance and need

graduationmoney39197232.jpg
When it comes to investing, everyone has a different need. Some people have an abundance of their needs because they have established in their mind that they need to have this set figure in order to maintain a comfortable lifestyle. Most people don't need much to live comfortably; we just have an abundance of our needs. The problem with staying in the mentality of having an abundance of needs is that it can hurt your investment portfolio. Many people get greedy with their investment strategy and they will lose everything because of a poor decision. These are normally the people that don't have the money to start investing in the first place. They use money that has been set aside to cover their cost-of-living expenses, their children's education expenses, or a down payment on a new home.

It makes sense that it is hard to fulfill all your needs, but it is important to recognize when you have an abundance of them. To gain a better understanding of abundance and need, here is an example. You are at the beach and you are wearing some flip-flops, just then one of your friends shows up with some unique water shoes designed by Speedo. Almost instantly you decide that you need these shoes, even though there is no real problem with your flip-flops. That evening, you run to the store and buy this pair of water shoes that cost $40. Your flip-flops only cost you $5, so you are spending $35 more for a shoe that basically does the same thing. This is a small example of abundance and need. Once we have something, almost immediately there is something else that will take its place and we think we need it.

To stop the cycle of abundance of need, you need to recognize it. You need to stop the cycle before it goes too far and before you are investing money into stocks you know nothing about. It can be easy to listen to your neighbor that claims they made a 30 percent increase on their stocks by investing with this particular company. You may then think you need to go out and buy this stock or buy more than your neighbor so you can have an abundance of money compared to your neighbor. Don't let your personal jealousies get in the way, which is where you will quickly get into trouble. Stop the desire you have to be better than your neighbor and take look at the way your investment portfolio is performing. If it looks good and things are on the incline, don't get greedy.

If you cannot control your abundance and your need, contact a financial advisor. They will be able to control your finances for you and keep you afloat. They will also let you know when it is time to sell and when it is time to buy. If you let them know your situation, they will help you stay on track with your needs rather than your wants.

Some of the millionaires that have been successful with investing actually live simplistic lifestyles. Many of them do not own lavish houses, just a nice house that fits their needs. They save their money and don't buy expensive jewelry and cars, instead they re-invest it. Instead of taking the money you make on your investments and blowing it, save it and re-invest it. No one can predict the future and you will regret spending $50,000 on a new car that should have been used to pay for your son's surgery or other emergency needs. Always keep your needs in mind first before you get greedy and caught up in the latest stock market talk among the successful investors.


,
FREE: Get More Leads!
How To Get More LeadsSubscribe to our free newsletter and get our "How To Get More Leads" course free via email. Just enter your first name and email address below to subscribe.
First Name *
Email *


Get More Business Info
Sponsored Links
Recent Articles

Categories

Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use