It’s only a small part of my economy, but I do it. Or trading. I suppose it’s a mix between trading and investing for the simple reason that it makes for yet another passive income. And I love passive income :)
One of my investors in real estate has made pretty much his whole fortune from consistent investments in Swedish companies through stocks. Seeing it first hand makes it a bit inspiring to me and he is also a great source of knowledge. His key to successful trading is persistence, patience, high yields and self discipline (meaning not to touch the money but rather keep reinvesting your profits).
Another inspiration is a relative living in Denmark. As my real estate investor, he has made it very clear that most of his net worth comes from investments and not the salaries during his years as a successful salesman. Last time I visited him we were having breakfast on their porch overlooking the ocean when he opened the newspaper, looked at some listings and said. “Oh. I just lost some more money.” He then looked at me and said, “the funny thing is that even though I always lose money right after buying into a company, I’m always the one winning in the end.” Again. Patience!
When I want knowledge I always look for the best and getting into the stock market was no different. Seeing my investor and relative create such nice lives for themselves meant great inspiration and a lot of useful tips. To get even better I also dug into some books. My favourites and recommendations as of now is: Peter Lynch – Beating the Street and Robert G. Hagstrom – The Buffet Way.
I think it would be wise for all of you who seek passive income to put a small portion of your money into stocks and commit to leaving them there at work for at least 25 years. Could you do that? It’s got some perks to it. I always enjoy checking the status of my investments in the mornings etc. I also enjoy buying into some more risky projects like this mornings Drone manufacturer :)
Have a sweet day! I think I’m off to the golf course in a bit.