Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
"The journey of a thousand miles begins with a single step." - Chinese proverb attributed to philosopher Laozi
With all the COVID-19 whipsawing we're experiencing in the U.S. economy - and the uncertainty that's created for folks like you and me - Money Map Press is seeing more direct inquiries about stocks than at any time since the Great Financial Crisis of 2008 to 2009.
And one of the most intriguing queries we're seeing is this one: "I have $2,000. I want to invest it in stocks. But I'd sure be grateful for some guidance on which stocks to buy and what 'strategy' to employ."
Let me tell you folks: I love this question.
And I respect the heck out of those who posed it, or who were thinking along those lines, for a few reasons...
For one, you're ignoring the near-term "noise" and are focusing on the long term.
Second, you're taking action - and taking control of your own financial destiny - which is always one heck of a lot better than just sitting back and letting stuff "happen to you."
And, finally, it can be a difference-maker. That two grand is merely the first step. But it shows that you're serious about changing your future. It puts "skin in the game." It forces you to pay attention. And you'll be stunned at how much you learn.
It takes courage to act, to make tough decisions, to move forward.
And by posing this question, you're doing just that.
Just as a long journey can start with a single step, the journey toward a secure financial future can begin with a single investment - even one as seemingly small as $2,000.
And I'm going to start by sharing a personal story that proves the value of a "mere" $2,000 investment. I'll even offer some stock recommendations that will help you take that first step...
About the Author
Before he moved into the investment-research business in 2005, William (Bill) Patalon III spent 22 years as an award-winning financial reporter, columnist, and editor. Today he is the Executive Editor and Senior Research Analyst for Money Morning at Money Map Press.
I just wanted to thank you for sharing your story about investing with Joey. I love the idea that he picked the companies he has connections with and now that he is invested not just financial but emotionally. This will keep him engaged and he will learn there will be good day’s and bad day’s. I have two very young grandsons and will make some investment on their behalf until they are old enough to understand and will have the same conversation with them that you had with Joey. I just loved the idea. Thank you for the inspiration.