Millennial get rich plan
Our Millennium, our century, and our first decade started with miserable economic problems. We had a “tech bubble” stock crash in 2000. Then we had another economic drop with the terrorist attacks on 9/11/2001 and the stock market dropped again. Then when we thought the worst is over, the Depression of 2008 knocked everybody down on their ass. Good news for us survivors is on the way. Get ready to reap in riches.
I share my experience as a baby boomer who graduated from college and was looking for work in our worst recession in 1972. Of course, my high school and my college left me ignorant of economic cycles or basic business principles. We cannot entrust capitalism to protection of politicians and professors.
My working career began with employment by TIME. My annual gross income was around $22,000. I wanted to invest some of the money to make me more money. I took a payroll deduction for buying company stock out of my biweekly pay. The stock market was miserable in the recession, so my shares kept losing value and that made me rich. I was not worried about losing money because I knew saving a small amount at the bank would make nothing. After 3 years of losing money and getting additional shares at always lower prices, the market turned. Suddenly, I was rich and bought a condominium.
Seeing the potential from investing in times of trouble opened my eyes. The Millennial potential for wealth is great. Too many predictions of doom, make me encouraged to invest more. Mutual funds have minimum deposit limits. Stocks can be purchased for any dollar amount. I would suggest diving into the shark tank. Open a Fidelity account to deposit some cash systematically. Research some companies that are important or you personally like. Consider even a boring company like a utility. I worked with an old gentleman who only bought electric utility stocks while working. He was a millionaire that did not make a millionaire salary at work.
Be happy to enjoy making history, like I did. I had to stop the presses every week for the Nixon Watergate stories. You will be seeing the wildest election ever for Donald Trump! Get rich! Reagan made me rich in the stock market. Trump will help us make money!