If you’re interested in investing but don’t want to go at it alone, you can join an investment club or even start one of your own. An investment club consists of members who study stocks, bonds and other investments. The goal is to have each member take an industry and report to the group why they think it 7 simple steps to financial freedom pdf a great investment. Knowledge is power, and wisdom from many helps assure success.
Many times they will pool their money together in order to make joint investment decisions. It’s a great way to give and get wisdom.
Working with others will help you and others make intelligent investment decisions. Find potential members for your club. They can be local, so you can meet in person, or they can live far away, and you can meet online.
Aim for a club with 10 to 15 members, but anything from six to 20 is workable. However, with a large group, both maintaining high-quality discussions and finding a place to meet become concerns. Tell family, friends, and co-workers about your club-in-the-making. Put together a flyer describing what you have in mind, and pass it out, post it on message boards, send it through e-mail, etc.
Get together with the people who are interested, provide snacks and refreshments, and discuss the formation of a club. Are people more interested in the club for its educational value, or for the financial returns?
Are they interested in short-term or long-term investing? Most investment clubs use a buy-and-hold strategy. Will your members share a general investing philosophy and approach?
Determine how much each member can contribute financially. Is this consistent with your goals? This will be used to pay administrative costs.