Geoff Prickett - Audiobooks - Informational Demo
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
The five rules for successful stock investing, Morningstar's guide to building wealth and winning in the market. Bye Pat Dorsey hold for the long haul. Never forget that buying a stock is a major purchase and should be treated like one you wouldn't buy and sell your car, your refrigerator, Your DVD player 50 times a year, investing should be a long term commitment because short term trading means you're playing a loser's game. The costs really begin to add up both the taxes and the brokerage costs and create an almost insurmountable hurdle to good performance. If you trade frequently, you'll rack up commissions and other expenses that over time could have compounded Every $1 you spend on commissions today Could have been turned into $5.60. If you had invested that dollar at nine for 20 years, Spending $500 today. And you could be giving up more than $2,800 20 years hence. But that's just the beginning of the story because frequent trading also dramatically increases the taxes you pay and whatever amount you pay in taxes each year is money that can't compound for you next year.