Friday, November 19, 2010
Welcome to 'Watch My Wealth'
This is the very first post of my very first finance blog, and I thought I would give a brief summary of what I want to share with you. I know it seems like a personal finance blog is pretty self-explanatory--I post my stocks and stuff and you look at it--but I think there's an opportunity to do more.
Given the fragile state of the economy for the poor and middle-class, it's frustrating to watch stock shows and look at the big, finance blogs. They all seem to be catered to the already wealthy or at least those that soon will be. There doesn't seem to be much of a market for lower income stock investors like myself. This doesn't mean that there are no opportunities for people like myself (and maybe people like you), it just means we have to be savvier than the big guys. We have to play it smarter than the rest because we can't afford to lose. Losing a few hundred here or there means something to me. Hell, even losing $10 on something dumb can burn me for a day or so.
This blog is where I intend to answer this question:
Is it possible for an amateur investor to build a sustainable portfolio with a small amount of cash, that's capable of severely easing the financial burdens of everyday life?
In other words, can a poor guy like myself live off passive income?
As I search for an answer to that question, here are some things I intend to cover on my blog:
1.) My personal stocks - This should be obvious enough. These stocks will include what I have in my individual and IRA accounts.
2.) Stock advice - I am an amateur investor, so whatever I post in this category will be things I learn along the way that can hopefully help others. I realize I have a lot to learn about finance, (although I'm not a complete beginner), so if you notice something in my reasoning that's completely screwy, or you just want to chime in about whatever, please do so.
3.) Finance articles/how to/rants - I have a very inquisitive mind and a bubbling cauldron of opinions regarding all things money-related, and this blog will be where I explore the latest news and happenings in economics.
4.) Funny stories and mistakes - I am not ashamed to admit that I've made my share of mistakes in investing. Hopefully you can get some laughs from my misfortunes, and maybe even learns something at the same time.
Over the next few weeks I'll detail my current portfolio, and explain how I intend to go about making it bigger in the future. Thanks for stopping by. I hope you add 'Watch My Wealth' to your listing of finance blogs.