I hope that you are enjoying summer. It’s a great time to relax and reflect. And, the stock market continues to climb – cha ching!
If you read my last post, you would know that it’s also a time to trust yourself, invest in yourself, believe in yourself, and repeat that process. If there’s anyone who demonstrated this approach, you need look no further than the U.S. Women’s Soccer Team – Yes!
Well, several Charisse Says members asked a poignant question – “Charisse, what I can tangibly do in the next six months to build wealth following this approach?”
As you might suspect, I have an answer: Your individual action-items will vary depending on what you want to accomplish, and how you want to accomplish the goal.
For example, one Charisse Says member shared with me that he’s interested in buying more individual stocks because he believes certain companies have more room to grow, and their stocks still represent good value. As I’ve explained in my video, making investments in businesses that you understand and whose products you use are very helpful in your decision to buy a stock. And, I know Warren Buffett feels the same way because he’s touted this type of approach in many of his annual letters.
Another Charisse Says member shared that she is looking to sell some stocks because she’s already made a lot of money and wants to cash out on some of her investments. Both situations are the opposite sides (buying and selling) of the same coin (trading stocks) tailored for an individual’s needs.
One stock that has received a lot of attention on both the buy and sell sides is Pepsi, a household name that I know you are familiar with. Given the company’s recent positive results, as articulated in this WSJ article, I wonder if you would be a buyer or a seller! Check out the stock’s chart over the last year below.
Alternatively, several Charisse Says members shared with me that they are considering buying a franchise. There are many pros and cons of buying a franchise, and while I’ve never personally done it, I can see the appeal. On the other hand, a recent report from the New York Times shares how some Subway franchisees were swindled out of their stores, and ultimately, their investments. Here, the important thing is to start to think outside the box and investigate whether or not franchising is for you. If you have a story to share on your franchise journey, please let me know or leave a comment below.
Before I go, here are a few articles that could help you keep more money in your pocket:
Have a great week!