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Published: June 30, 2020, 12:25 p.m.

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In this episode, what I would do if I were 50 and had no experience in the Stock Market, but I was interested. Disclaimer: \\u201cI am not a registered investment advisor or securities broker dealer. These are my thoughts and are not advice. Seek your own education or you will lose money.\\u201d #3 Rule of Gold - Richest Man in Babylon Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. Step 1: Do a detailed Gap Analysis where am I now? Where do I want to be? Who do I want to be? Step 2: Determine my risk profile how well do I handle risk? how risky do I need to be? RISK IS NECESSARY with anything in life Step 3: Create my long term cash machine Only match employer contribution in 401 (k) Re-allocate extra cash to a Brokerage IRA Create a plan to pay down high interest debt (credit cards) Step 4: LEARN, LEARN, LEARN Designate portion of income to trading/investing education (books, webinars, courses, etc) Paper trade every day for 3 months to learn how to swing trade Step 5: Build accounts Retirement account 70% - old companies with economic moat and dividends Swing trading account 20% - this will serve as my own personal business. I\'ll have this tool for generating money for the rest of my life Risk trading account 10% - utilizing options to hedge stock positions in larger accounts. Trade options to generate pocket money - Quote of the week: \\u201cThe alteration of your current circumstances is in exact ratio to an altered mental state\\u201d - As A Man Thinketh, James Allen 

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WHAT\\u2019S THE KEY: Learn \\u2192 test \\u2192 \\u201cperfect\\u201d \\u2192 Scale up = $$$

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Is the Stock Market the answer for you? Learn more: https://gum.co/VxJLm

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This episode is sponsored by \\xb7 Anchor: The easiest way to make a podcast. https://anchor.fm/app

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