How A Good Education Can Help You Take Wall Street By Storm-whether You Go To College Or Not

The other day I was sitting down at the table talking to a friend of mine about investments

and their financial future, and they said something that surprised me. They said (and I kid you not, these words actually came out of their mouth) that the reason they hadn't been investing to date is because they never went to college and didn't feel like they were qualified to play the stock market.

Don't get me wrong. I'm nobody's miracle broker. My family has a team of people managing the stock we buy and the trades we make, and we rely on them heavily to make sure things keep moving forward as smoothly as humanly possible. And there's nothing wrong with that. But I value the fact that I have the opportunity to observe what they're doing and use that information to gain a basic understanding of how the stock market works and what that can do to help keep my family and myself in one piece.

You Don't Need a College Education...

Let me take advantage of the opportunity to pop at least one of the bubbles surrounding the myths of stock trading, and that's that you have to have an MBA from Harvard to teach you how to do it. If the only thing holding you back from actually stepping forward, feet first, and diving in is the fact that you don't have a shiny, overpriced college degree on your wall (I have one, I know these things), you're missing out.

Stock trading, particularly if you engage the services of a professional, hardly requires a college degree. Actually, you don't need any type of formal training at all. You do, however, need enlightenment as to how these financial instruments operate before you lay down your cash.

Before you dive feet first into stock trading, you should do two things. First and foremost, sit down with yourself, your future and plans and yes, your spouse, if you're married, and set some long-term financial goals. Where do you want to be in five years? Ten? Fifteen? Having those numbers in your head will go a long way toward helping you start moving forward on the path to financial success. It will also help your financial advisor and/or stock broker know where to start and what kind of plan will work best for you.

Always Maintain some Control

Just because you can have somebody else completely manage your financial assets doesn't mean that you should. Letting someone else handle all of your money is the rough equivalent of assuming that your mechanic is going to handle everything associated with your car. Sooner or later, you're going to end up running out of oil on the side of the road, and since you never took the time to learn anything about the vehicle you're driving, you're going to end up scratching your head and trying to figure out what went wrong.

Okay, let's return to finances and investments. Before you begin your stock trading, spend the necessary time to learn the basics. You don't have to know how to create a dizzying brilliant financial analysis report, graph trends or have an $80,000 college education. You just need Trading 101. Search for a recognized and reputable program aimed at beginners that will hook you up with experienced, professional traders who can tell you about the realities of the market.

Once you've got a little bit of training under your belt and a good stock broker in your corner, you've got what it takes to take Wall Street by storm.

by: Cameron Stein

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