Happy Monday everyone!
Market Mondays, brought to you by Legacy Investing & Wealth Management is a regular blog giving you a quick and easy read focusing on stock market education, empowering the newer investor as well as giving you the most recent stock market analysis. For more information including past blogs please go to www.LegacyInvesting.net; look for the Market Mondays tab under “The Legacy” for all blogs. Please tune in to my Facebook Live and Periscope ONLINE EVENT on Sunday, June 26th beginning at 8PM EST (note the day and time change).
A lot of wealthy people hire Investment Advisers to manage their investment accounts for a small fee. And if you have a good adviser you’re normally making a lot more than the fee you’re paying out. Is the first thought coming to your mind some of the clowns you might see on the show American Greed? A stand-out is (or was) popular Investment Adviser, Bernie Madoff as he MADE OFF with a lot of people’s hard-earned money. What he did first (as well as what lots of other crooks do) was earn the trust of his prey. He then gets them to turn over their hard-earned money….(blank stare). Next, he comingles the money with all the other victims and sends them bogus statements showing what their money is supposedly doing (really hard SMH) So…..lesson #1 – never give someone your money (without having full control of your account) and expect that they will do right by you. Don’t get me wrong, there are a lot of honest people out there and this rarely happens but you don’t want to be one of the sorry few. This probably reminds you of how you’ve lent money out never to see it again huh? You should ALWAYS have access to your money and be in control of it even if someone else is managing it! Common practice with most Investment Advisers is you open up your investment (brokerage) account(s) which will always be linked to YOUR personal checking or savings account, not theirs lol. Their job is to trade and hopefully make you money.
On the flip side, managing your own accounts is actually a lot easier than you may think. The #1 reason I hear people tell me why they’re not investing is because they don’t understand the stock market. Hey, I didn’t either until about 8 years ago…and I trained myself; so if I can do it, so can you! If this describes you then here is where I come in. For a one-time fee I can get you started and give you the tools you need to be a lifelong successful trader. I also will give you access to expense and forecasting tools that have helped me significantly. The Word says write the vision and make it plain and that is exactly what I did regarding my finances, outlining where I want to be in 5-10 years. For that one-time fee you will gain from me what took years to find out and develop. It’s a small price to pay for something so potentially life-changing. Check out my website for more info at www.legacyinvesting.net or just tune in this Sunday.
The S&P 500 ended this past Friday at 2071, about 1 ½ percent lower from where it was 2 weeks ago. The Feds decided not to raise interest rates at the recent meeting which was not a surprise and the stock market had already priced that in over the last month or so. The talk over Greece and whether they will exit the European Union (EU) is back in the news and there will be a vote later this week by the British on the possibility of the UK leaving the EU. There is anticipation that the UK will remain which could spark a short-term stock market rally since the market is undecided on what will happen. The fear index in the market, called the VIX is has been moving higher which usually implies a lot of nervousness that the stock market is currently selling off or that a sell-off is anticipated. Gold has been moving higher for quite a while now which has also been an indication that there is building fear in the market. I’ve made a practice of investing in the gold miners which always sees amplified moves compared to gold itself.
Please visit our website at www.LegacyInvesting.net and contact us today for a FREE consultation on becoming financially fit and learning how to make money investing in the stock market. You can make money in ANY type of market (bull or bear). When we meet I’ll give you more information about our services and find out what your financial goals are. If I can help you, we can move forward; if not, no problem but I’m always just a phone call away from any questions or quick advice you want. I can help get your finances in shape so let’s connect and build generational wealth together. Don’t forget to tune in this Sunday evening and I’ll walk you through everything.
Disclaimer – Legacy Investing & Wealth Management LLC or any of its advisers are not liable in any way for any losses incurred through trading by readers of this weekly blog. Any information or strategies of trading suggested here involve risk of capital loss and this weekly blog is not considered investment advice. Individuals who invest in securities are solely and completely responsible for any and every outcome that may occur.