If you have been following me, it shouldn’t come as a surprise that I could use the memory of finding my perfect wedding dress (two decades ago) as a metaphor for the stock market and investing.
So here I go, using the story to emphasize the importance of shopping around! As a recap of yesterday’s post, deep down, I knew I wanted the first wedding dress I tried on. However, I wanted to be extra sure that there wasn’t another dress I liked more.
So, I tried on every. Single. Dress. Available in that shop.
Now, in terms of the stocks or ETFs, let’s say you have a general idea of a company or industry you would like to invest in. Maybe you want to invest in a company that makes wedding dresses? It is important to find a stock that is suitable for you and fits you best. Factors might include your budget or some other limitations or criteria. You may also want to identify a good time to invest in that industry and its trends.
For instance, is there a particular time of the year that the most significant number of wedding gowns are sold? Furthermore, be on the lookout for any potential market disruptors. Is there a new low-cost wedding dress company starting up?
Sometimes you luck out, and the perfect one is the first one. But it never hurts to go down a rabbit hole for confirmation!
Want to hear more? Watch the replay of Thursday’s Facebook Live Events where I go more in-depth
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