Soon after divorcing my gambling husband, I got a call from a friend of my father. He wanted me to invest in a Limited Partnership he was forming, TJ Cinnamons, a fast food place that made sticky buns.
I had no idea what a Limited Partnership was, but this man was wealthy, smart, successful, so it had to be a great thing, right?
I didn’t know that you can’t sell shares in a Limited Partnership because there’s no market for it. When TJ Cinnamons went under, I lost my investment.
That calamity taught me a critical lesson. I call it the #1 Law of Investing: Never put money in anything you don’t understand. I was determined to educate myself.
That’s when I devised The Busy Woman’s Blueprint for Wealth Building. Otherwise known as the Osmosis School of Learning. It consists of only 2 steps. Do them consistently, and you will be amazed, in just a short time, how much smarter you’ll be.
1) Everyday, read something about money, even if it’s just for a minute or two, even if it’s just glancing at the headlines of the business section of the newspaper, or a money magazine while you’re waiting in line at the grocery.
2) Every week, have a conversation about money. You can learn so much from people smarter than you. Anytime you meet someone versed in investing, ask how they got smart, the mistakes they made, and what they’d recommend to help you learn.
Try these 2 steps and watch what happens. They worked so well for me that, to this day, I still do them.
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