A better approach? Choose well-established companies that trade publicly. That way, you know they’ll be held accountable for specific reporting requirements, and you can feel confident in their staying power.
If money is tight, you can look at buying fractional shares over penny stocks. That way, you’re not as limited as to which companies you can invest in. Though not every stock is available in fractional form, many are, and a growing number of brokerage houses are opening up that option.
You work hard to eke out money to invest, so the last thing you want to do is blow it. The above moves could prove disastrous to your quest to build wealth, so don’t fall victim to them.
Instead, train your brain to cope with stock market volatility, limit the extent to which you buy and sell stocks, avoid shorting stocks unless you’re really confident you can pull it off, and steer clear of so-called bargain stocks that may cost very little but aren’t great companies to own.
10 stocks we like better than Walmart
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