Quote:
Originally Posted by pbear
Hi Brian,
I suggest you define your goals into short, medium and long term.
Once you have a written plan you can decide what might be best, as to where to begin.
However, if you are carrying debt .. as in credit card debt ..
the very first goal should be to pay that off .. not down .. off.
and any new balance must be paid in full monthly.
At 12% to 18% interest per year there is no better investment than getting rid of debt.
This includes keeping money in CD's, or a savings account at less than 2%.
Once that step is completed you can begin investing in the market.
Remember, it's not about making money, it's about keeping what you made.
Interest paid out is a silent account killer.
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pbear is correct.
If you have debts, you will not trade with a logic mind..
The only thing you then want to achieve is to lose those debts as soon as possible, this can be a great motivation or bad motivation because you won't see mann good deals in the longer term.