JoshNo matter what level you’re at when it comes to investment, there’s always room to learn more and improve your practices. That’s the answer I received, anyway, when I reached out recently to a colleague who prides themselves on their financial savvy. When I asked them for a recommendation as to how best to keep up one’s level of learning, they pointed me toward Stansberry Research, a publisher of financial and investment information. From their recommendation, I went ahead and created a short guide below as to how best to utilize the company as a resource in your quest to manage your wealth.
Be inquisitive
The offerings by the publisher are vast and touch on topics from commodities to retirement to stocks. If you don’t already have a preferred way of investing, this is a great opportunity to take a broad look at all of these areas in order to find out what you’re interested in. Once you’ve got a surface level grasp of what’s out there, you’ll be able to make a more informed choice as to how you want to operate your own portfolio.
Stay up to date
The world of finance, like the world at large, is constantly changing and evolving. What’s true one day might not be true the next and even seemingly small shifts in the economy can have outsized impacts on investors. So in this space it really pays to stay current with changing schools of thought. The publisher does a great job with respect to this by releasing publications quite often, with some even being published daily. You don’t need to devote all your time to it, but setting aside regular time to keep yourself informed will be a big leg up in your financial efforts.
Keep an open mind
Stansberry Research offers information from a range of different financial experts, proudly calling these offerings a “mosaic of opinions.” This is done from the mindset that hearing multiple opinions on a single matter can be helpful, even if those opinions stand in contrast to one another. That philosophy is a good one to take to heart, as it’s far too common for investors to decide what they believe and then be unswayable even in the face of compelling evidence to the contrary. If you like feeling like you’re right this might serve your goals but if you’re seeking to make sound financial decisions, it’s beneficial to listen to people whose opinions differ from your own.
Form a plan
Investing is a long-term endeavor which means it requires a plan to achieve reliable results. The information on offer from the publisher is a great component towards creating such a plan, but it is not the full picture. What you do with that information is as important as what information you take in. So be prudent and methodical when you determine your course of action, you’ll thank yourself down the line.
At the end of the day, there’s no such thing as too much information. So even the most learned investor would benefit from a look at the publisher’s offerings. For the rest of, use the above guide as a jumping off point for what to with those offerings once you start browsing.