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My First Million

Lessons learned from a cautious investor who has already made it.

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Could a mentor help you reach your goals?

Lets say theres an aspect of personal finance, investing or your career that you find new or a bit confusing -- heres something to consider...

Find a mentor. That is someone who can give you advice without wanting to sell you something. Certainly family and friends are a good place to start.

Lets say you find a great candidate but they're not a close friend. Consider inviting them to lunch. I have done this a number of times in the past and have found that, assuming they understand your motive, even people you dont know very well are often glad to help.

If you do follow this path, be sure to respect your mentor's time. And please do your homework prior to the meeting!

On a personal note, I hit the jackpot on this one: When I was in my 20s, a friend of the family -- who also happened to be an executive at a regional brokerage firm -- agreed to take my account and invest it along with his own. So when trading his account he made the same trades for me (small company stocks). At least in my case, the results were better than outstanding.

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Comments
>>> dledge Commented on August 17, 2005

Great post, I like the ideas.

Consider also the "Financial Coach" mindset:
http://www.ruthhayden.com/tips/BeYourOwnFinancialCoach.htm

Either be your own, or find someone to help you.


>>> Jing Cheng Commented on November 02, 2005

Jing's Million

My name is Jing Cheng, and I am on a journey to making my first million! I hope to keep you informed of my new business ideas and ventures through this blog and my progress towards 1 million! I am a student living in Cambridge, UK.



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