Many people do not invest in the stock market because they think it is gambling and they do not “gamble.” Here are some scenarios to explore to determine if you are a gambler.
| If you have any type of insurance policy, you are a gambler (However, you are on the wrong side of the gamble. The insurance company is betting nothing bad will happen to you.) | |
| If you ever purchased a lottery ticket, you are a gambler. | |
| If you ever purchased a raffle ticket, you are a gambler. | |
| If you ever went to a casino and said you would play with just $25.00 or $200.00, or placed a bet at the racetrack, you are not gambling; you are paying for what you think is entertainment. | |
| If you have a 401(k) or 403(b) account with your employer and put the money in a mutual fund that “everyone else” did, you are a gambler. | |
| If you ever bought a stock on a “tip,” you are a gambler. | |
| If you put all of your money in bank CDs and rolled them over every time they came due without considering something else, you are a gambler, but not likely a good one at all. | |
| If you ever ran a red light, you are a gambler. | |
| If you ever drove a car under the influence, you are not only a gambler, but a possible felon. | |
| If you see something in a store and want it but decide to wait to see if it goes on sale, you are a gambler. | |
| If you went to college, or a trade or vocational school, or took an adult education course to learn a new trade, work or business skill, you are a gambler, but that is likely a good gamble. | |
| If you ever started a business or went to work in a newly formed business, you are a gambler. | |
| If you have young children and do not have adequate life insurance, you are a gambler. |
When you say you are afraid to invest in the stock market because you are not a gambler, does that make sense?
I am not suggesting you invest in the stock market, but I am suggesting you learn more about it and try to remove some of your fears and misbeliefs about it.
If you have any tax, business, financial, leadership or management issues you want to discuss, please do not hesitate to contact me at [email protected].
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