But You Must Be Disciplined

So today Dave Ramsey released a video on Facebook where he gives a rather negative perspective on using apps like Robinhood and STASH as well as others. You can view the video here if you'd like. I have to admit that I nearly always agree with Dave on some level. As a matter of fact I can even find common ground with him on this topic. Make no mistake, I am not saying that I think he is 100% correct on this matter, but understanding his stance on saving and investing helps you to properly put his view into perspective. 

Dave deals with many people on a day to day basis that are in very tough financial circumstances. There are diverse reasons why they have gotten where they are, and in one form or fashion it will ultimately boil down to mismanagement of money. That being said Dave knows the personality he is dealing with in the people who are calling his show for advice. One thing you cannot do is advise someone who is quite possibly feeling desperate to go out and begin throwing money into the stock market. It will not end well for them. That's a fact!

So because of this Dave maintains a stance that he will not recommend anyone buy individual stocks nor attempt in any way to manage your own investments. He state frequently that you should leave that to professionals. In other words, give all of your money that you allocate to retirement and investments to a stranger in a suit and pay them to invest it for you. 

My friends, this is sound advice, but only for those who cannot take the time to learn about investing and control their impulses. If you are predisposed to making emotional decisions when it comes to money then you most assuredly need to pay a professional to take care of your money. But if you are learned and disciplined there is no reason why you can't set some rules for yourself that can help you accomplish your financial goals. But keep in mind, discipline is the key! 

Know the company you want to invest in, understand how they operate and make money, have a plan and a goal of what you want from your investment before you ever click the "buy" button. And lastly, DO NOT LOSE MONEY! Your discipline will get you to your goals, or your lack of it will keep you from them. Discipline truly is a bridge.

CLICK HERE to see my progress so far!

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