This strategy involves options. So you need to have intermediate level experience trading options. For those of you who are still in the game read on..
Silver has been having a nice run lately. It has been making a new 31 yr. high almost every day except yesterday. This is good because it needed a breather. Today Silver has traded very well which is evident from the chart below
In my view, Middle East situation deteriorates before it improves. There are other countries like Bahrain and Yemen where protests are flaring up. Which supports the precious metals going up higher. I think Monday (Mar 7th) you will see Silver make another 31 yr. high.
There are many investors here in US who are trying to get ahead of the curve ball and that has bid the commodity higher today. Here is how it has traded
I think you will see Silver closer to $36 than you would see closer to $35 my end of trading day on monday. For retail investors who want to track the moves in silver, they can bet on iShares silver ETF (SLV).
Welcome to my blog ‘Plan to make a Million’.
I want to be a millionaire. Who doesn’t? Everyone wants to be rich, nothing wrong with that right? More often than not people try their best but can’t rise above average middle class. The way I see it there are primarily two reasons. Either the people were not disciplined enough to stick to their guns or they do not explore the opportunities. On this blog I am going to talk about all my ideas that will help me become a millionaire. No I am not talking about buying a lottery, or winning big in the stock market, or appearing on a reality show. I am talking about simple steps towards riches that you and I can take. From everyday changes that are sustainable to finding a business idea which a middle class man like me can take forward and make a chunk of change out of it. As I embark upon my journey to the riches that every idea is not going to hit big, off course. But I will explore each idea by putting it to test myself. At the end of regular intervals I will scrutinize the feasibility of the idea and its probability of making us some money.
I request my readers to provide feedback to either improvise upon my ideas or to identify drawbacks in my plans. Together we can devise a plan to make a Million dollars the old fashion way, with hard work. Now don’t be thinking why work hard when you can work smart. Believe me friends I have learned one lesson in life – there are no shortcuts to success. For those of you who are thinking why would I follow your blog, here is a value proposition – you don’t have to make the same mistakes to learn from it. Learn from others mistake. And for those of you who have a more optimistic view towards life – it takes one spark, an idea, a plan to unleash the real talent in you. And that is what this blog is going to accomplish. We will explore together what ideas can make us Millionaires. I will give you some actionable plans, some insight, share my experience and explore ideas to make us rich.
Not everyone is born Warren Buffet or Bill Gates. This blog is intended to be a real life platform to share our ideas on this journey to become rich. We have all read about Mr. Buffet or Mr. Gates or some other self made millionaires but the stories and experiences of those who couldn’t make the cut never see a light of day. We never get to learn from experiences of people who didn’t hit as big as others who did. Why is that important? Well after all failure is a stepping stone to success. If following the footsteps of a self made millionaire was going to make us a millionaire then all the readers of biographies of these great men would have been millionaires before I finish writing this blog.
Stocks a topic that I am way too intimate with. So let’s discuss the question that get’s asked the most, Can I get rich by investing in stocks? Afterall Mr. Buffett hit big by investing in stock, right? Well anything is possible in the stock market. That means things can go against you as well. Unless you have professional trading experience on your resume, the chances are that you will not be hitting big by investing in the stock market. Why such skepticism? Well frankly the masses like you and me typically invest in well known stocks like AAPL, GOOG, MSFT, JPM, WFC & IBM but those are not the stocks that are going to ten fold return in next five years. Some of you who bought these stocks after falling in abyss during the 2008 recession will argue against my point. But most of us didn’t invest at that time. Why? because we were fearful. We were fearful of Citibank going bankrupt when we saw its stock trade less than a $1. We had seen Lehman Brothers go to bankruptcy not long before. But the smart money (investment firms) were buying hand over fist when Citibank traded less than a $1.
I know there are people who have made their fortune in the stock market. Such luck is rare to come by and those people did not invest in commonly owned stocks like mentioned above or AMZN, RIMM, or GS. But they invested in companies that were relatively unknown. As some might describe, these people found a diamond in the rubble. What are the chances of you finding a diamond in rubble. I am not saying it’s a practical impossibility but what I am saying is, you are better off not counting on that happening.
For those who are still persistent to make it big in the stock market, I will suggest investing in Options instead of investing in Stocks. The best way to describe Options is ‘Stocks on steroids’. If you are on the right side of the trade you can make lot more than investing in the stock directly or the same is true on the other side, you could lose more than simply investing in Stocks.
If you want a steady growth of your assets, you should consider buying solid stocks that provide consistent dividend return. There are a number of stocks that fit the bill CVX, JPM & KO are a few to mention. Instead of stacking away your money under the rug or in a nearby bank and getting a meager 1% return for 1Yr CD, invest in high dividend stocks and earn 4-5% easily. I realize that this strategy comes with its own risks but remember we will have to take some calculated risk to get better than average return to get us to the million dollar mark. So good luck hunting for your high dividend stock pick.