Can I Get Rich with Stocks? Investing for Beginners Series #4 with David Moadel
welcome to looking at the markets with David Modell this is another installment
in my video series for investing for beginners and before I get started with
this one I just want to remind you that you can email me anytime at that email
address down there David Modell at gmail.com if you have questions about
investing if you're a beginner it's okay if you're not a beginner it's okay if
you want assistance with putting together an investing plan because you
need to have a plan that's essential especially if you're planning on being
successful at this I think it's really important to have a plan and I can
assist you with that all right so a big question is can I get rich or can you
get rich in the stock market can you get rich with stocks buying and selling them
you can of course you can it's it's been done the proof is that it has been done
and if other people can do it you can do it alright and never think that you're
not smart enough or you don't have enough money to start you don't need a
ton of money to start investing in the stock market all right there are some
stocks that are very inexpensive and there are some also also some very
expensive ones as well but there are some really good companies that have
stocks that are not super super expensive and you can get rich but I'm
also going to say it's not easy you need to have as I mentioned before a plan if
you just go into it with no plan then your likelihood of getting rich in
stocks is it's pretty low not very likely so your plan really
should involve steady income steady growth over time where you're making
money in the stock market year after year and every year every time you make
a profit if you can take those profits and your initial principle which is your
the principal is the initial investment okay and take that and your profits and
reinvest as much as you can of that back into your investing account and you
keep reinvesting reinvesting as much as you can if you can afford to do that if
you get a dividend which is where you get a cash payout from some companies
when you invest in their stock and just leave it in there for a while sometimes
you get a dividend cash payment in your account that can be reinvested okay you
can reinvest reinvest and over time over the months over the years or even
decades if you have that kind of time availability to you then you can get
rich over time if you try to get rich tomorrow or next week or next month your
likelihood of succeeding is I think not very great because then you're taking on
massive a massively risky speculative position which I don't recommend alright
so think in terms of building wealth over time it can be done again you have
to have a plan you have to know what you're doing it's probably good to have
a mentor of some sort and it's you know get some coaching or something like that
have somebody you trust in your corner on your side and also just you know have
a long-term plan not a plan to get rich overnight but it plan to build wealth
over time and just keep reinvesting when you make money reinvest it reinvest it
that really is how you build wealth and it compounds there's a compounding
effect where you know if you're you got your principal investment and then you
make a profit and then you reinvest both both the principal investment and the
profit now you're reinvesting a bigger principal investment and then you make
more profit you reinvest that principle in that profit and now it's an even
bigger principal investment next time and it just grows and compounds and
compounds okay and again if you invest in great
companies which I've mentioned in many videos then your likelihood of
compounding that growth and building it into wealth over time that increases
alright so I hope it give you some things to think about I hope you don't
jump in and just try to get rich overnight I hope that you want to get
wealthy over time I hope you have that income steady income mindset as opposed
to the get-rich-quick over night mindset and that's how it works in the stock
market and investing in general alright I hope this video was helpful to you if
you like this video please give it a thumbs up on YouTube and leave a comment
and subscribe to my youtube channel if you haven't done that already if you
already did it awesome thank you so much I appreciate it and once again if you
need any assistance or help you can email me David Modell at gmail.com it's
right down there thank you so much this is looking at the markets and I'll talk
to you again soon